EURJPY Local S/R | Double Top| .382 Fibonacci| Price Action
Evening Traders,
Today’s analysis – EURJPY- trading at a key resistance where a rejection is probable,
Points to consider,
- Price Action Double Top
- Local S/R Resistance
- Local S/R Zone Support
(.382 Fibonacci Confluence)
- Oscillators Bullish Control Zone
EURJPY’s immediate price action is trading at a double top formation, a rejection back to Local S/R zone is probable.
The Local S/R Zone has technical confluence with the .382 Fibonacci, a bounce at this region is highly probable.
Both oscillators are trading in their respective bullish control zones, diverting back to neutral territory is healthy for the overall trend.
Overall, in my opinion, EURJPY is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb
Today’s analysis – EURJPY- trading at a key resistance where a rejection is probable,
Points to consider,
- Price Action Double Top
- Local S/R Resistance
- Local S/R Zone Support
(.382 Fibonacci Confluence)
- Oscillators Bullish Control Zone
EURJPY’s immediate price action is trading at a double top formation, a rejection back to Local S/R zone is probable.
The Local S/R Zone has technical confluence with the .382 Fibonacci, a bounce at this region is highly probable.
Both oscillators are trading in their respective bullish control zones, diverting back to neutral territory is healthy for the overall trend.
Overall, in my opinion, EURJPY is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb