Daily Trend: Downtrend
4H Trend: Downtrend
Analysis: EURJPY has aggressively dropped without major pullbacks toward the daily demand. Currently it is sitting at 25% resistance line and has touched the overlying nearest supply @ 127.01
Prediction: I will be waiting for a pullback toward either 127.01 4h or 127.77 4h .
However, if price continues its downward move without stopping, then a long at 125.368 would be favourable as long as the approach stays aggressive.
Price Points of Interest:
4h Supply @ 127.01
4h Supply @ 127.77
4H Demand stacked inside daily demand @ 125.368
This analysis is meant to be educational, inspirational and confirming of your own analysis. Trade carefully, trade wisely by managing your risk exposure.