The counter has made a retest of the broken head and shoulder neckline.
It has made the retracement in the form of a bearish flag and has broken down from it.
Further, it has crossed critical support of 123.9 and hence we expect the pair to be bearish in the short-term.
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👉 WE have sell conformation:
- Triangle formation and the candle close out of triangle.
- MACD give us SELL signal.
- Candle close below ASIAN...
On Friday's commentary, I draw attention to a rising wedge visible on both H4 and H1 charts for EurJpy.
Now the trend line support of the pattern is broken and I expect a continuation to at least 123 zone.
The pair is trading at the time of writing in support and a small corrective rally is not out of the question.
This rally can provide bears a good opportunity...
The rise from 122.50 is corrective in a ABCD pattern where D leg is a rising wedge which gives me reasons to think that EurJpy is ready for a drop.
I will try to sell rallies above 125 figure with a SL around 126 and a TP at 123 zone
Once again, market will always leave clues as to what it wants to do, I do not predict the market but my bias would be for a sell position seeing the price action clues on weekly and daily.
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Use proper risk management
When the trade is...
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Hi all traders,
This is a video analysis on eurjpy.
Do take note of the levels for eurjpy. Im not expecting any big moves from this pair yet.
So please be patient on this pair trading.. For now do not aim for big pips first for eurjpy.
Take the trades based on the levels i have advise you in the video.
Cheers and thank you!
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⚡️ The price felled below the 50% Fibonacci and 123.00 key psychological level
⚡️ And the previous price action level was broken and felled below the support level
⚡️ Risk sentiment is remain negative and in Asian session it has make a long bearish candle in 1hr timeframe
⚡️ The price is well below the 03 EMA's and the Ichimoku cloud is pointing towards...
Hi all traders,
This is a video analysis for eurjpy which i have done for all my followers.
As always, i have warn some of the levels within eurjpy, do take note of it.
If you have any questions, please do leave a comment so that i will try my best to answer you.
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