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EURJPY – Sellers has to break channel first

FX:EURJPY   Euro / Japanese Yen
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EURJPY – Sellers has to break channel first

Trend: Sell/ Neutral

Support/Resistance:
R3: 121.000
R2: 120.375
R1: 119.974
S1: 119.767
S2: 119.265
S3: 118.489

Price action:
Market on EURJPY currency pair is in bearish flow but first to set up new sell entry, price has to break channel to follow following lower targets. If not then buyers will test higher resistance levels. On the other side, if buyers are able to break resistance level at 120.375 point, we can expect price to hit channel resistance level .
Eventhough it is good to trade this idea with Elite custom indicator that can catch H1 trade set ups. (recommended)

Potencial trade idea:

Bulls targets:
T1: 121.000

Bears targets:
T1: 119.265
T2: 118.489

NOTE – We are trading EURJPY via the preferred trading setups


Disclaimer: Martin’s views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don’t publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.


Keywords:
Elite strategy, Custom Indicator, Fundamental Analysis , Tehnical analysis, Price action, Advanced strategies, Trading Education

Good trading!

Elitefxacademy

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