EUR/JPY: Bearish divergence + break out
Euro/Yen Japanese forming a bearish divergence in H4 timeframe show up a bearish momentum in the price action and RSI indicator. The previously closed up of this price action in H4 forming a bearish candlestick signal right now and we see a good opportunity to short Euro in front of Yen Japanese.
But now, in H1 timeframe and being simple, we see a bearish divergence too in RSI and price action clearly and the confirmation of this break out. We see a multiple charts like descending triangle and bearish risign wedge with the neckline what was broke down. And also the new bearish trend line and also I mark it with blue circles.
So, my perspective it's bearish. So, I will put a short position in the sell order limit at $138.85 JPY with the SL to $139.47 JPY (61 pips) and target to $137.00 JPY (185 pips).
And also to say you, be cautelous because we could to forming an ABCD harmonic pattern with the chance to go back bullish and also, this trade it's interesting to trade and be prepared in that way. You can to appreciate the possible harmonic pattern in formation in H4 to watch better. And another possible target to watch it's $137.52 JPY to take in note if we end the formation of this harmonic pattern
Good luck!!!
I will keep update this par
But now, in H1 timeframe and being simple, we see a bearish divergence too in RSI and price action clearly and the confirmation of this break out. We see a multiple charts like descending triangle and bearish risign wedge with the neckline what was broke down. And also the new bearish trend line and also I mark it with blue circles.
So, my perspective it's bearish. So, I will put a short position in the sell order limit at $138.85 JPY with the SL to $139.47 JPY (61 pips) and target to $137.00 JPY (185 pips).
And also to say you, be cautelous because we could to forming an ABCD harmonic pattern with the chance to go back bullish and also, this trade it's interesting to trade and be prepared in that way. You can to appreciate the possible harmonic pattern in formation in H4 to watch better. And another possible target to watch it's $137.52 JPY to take in note if we end the formation of this harmonic pattern
Good luck!!!
I will keep update this par
Comment:
Euro/Yen Japanese could to forming a reversal of the market before to continue up and we could to appreciate it to hit $137.52 JPY in the around 0.382%.
I will keep update this par in the next hours
Euro/Yen Japanese could to forming a reversal of the market before to continue up and we could to appreciate it to hit $137.52 JPY in the around 0.382%.
I will keep update this par in the next hours
H4 timeframe to appreciate the analsyis