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Heads up value traders $EURJPY still dealt at discounted prices if we account for both risk sentiment and yield spread (on down-cycles) while the pair still finds further bids into a key resistance area. See also divergence in correlation 30-period + volume decreasing... Watch it
What the hell happened today?
All red, red and red
EURJPY bounced off its support at 127.47 (76.4% Fibonacci retracement, horizontal swing low support) where it could potentially rise further to its resistance at 129.95 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance). Stochastic (89, 5, 3) bounced off its support at 3.7% where a corresponding rise could occur.
Podemos apreciar en los gráficos como el precio de la moneda a tenido un impulso bajista en las últimas semanas en estructura bajista, el precio posiblemente se encuentre en una corrección ABC para seguir con su movimiento bajista, tenemos el 38,2% de retroceso fibonacci, si nos basamos en nuestros indicadores solo tenemos como punto a favor las medias móviles ...
EJ made a very simple correction here and could make a slightly larger one, but it did give a sell setup london and looks to be going down.
crazy long against trend = high risk
BUY STOP EURJPY
Stop loss: 127.95
Take profit: 128.85
Stop loss at break even when price reach: 128.60
Bulls and bears
Possible Short Target 127.976, pull back to next support.
EURJPY daily bearish inside bar break downside.
Expecting more downside after continuation pattern complete.
EURJPY is looking for selling opportunities if the price is subject to rejection in the supply zone.
this pair will retrace to 128.620 before it goes back to its original trend
X-A = 0.786
B-C = 1.272
In the last hours I found this interesting Wedge Pattern, that ended with a shy bearish explosion by the Price Action.
Generally, there's only one target price for Wedge Patterns: it coincides with the amplitude of the pattern in the starting part (the largest part = Purple Line) (Target 2).
My Strategy consist in searching Support & Resistance Areas, so I found ...
Watchout for breakout to start selling
trying to catch the bounce on the dynamic support.
entry level> above the high of the last candle.