Short
EURJPY - Bearish engulfing candle show..a bearish behaviour sure
Eurjpy did a good rally upside as we predicted (see idea attached) and now it did a very nice rejection of the monthly R1+weekly SMA200 and 50EMA with a bearish engulfing candle on weekly timeframe.
On daily chart we can see that a doji candle show that market might pullback before the sell off resumes and therefore....
We should keep a look on H4 timeframe, a pullback and rejection of the yellow zone will be a good opportunity to short eurjpy targeting the bottom of the weekly channel and ascending trendline around ~123.00.
EURO futures confirm our position expectation.
S.L above 126.500 zone
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
On daily chart we can see that a doji candle show that market might pullback before the sell off resumes and therefore....
We should keep a look on H4 timeframe, a pullback and rejection of the yellow zone will be a good opportunity to short eurjpy targeting the bottom of the weekly channel and ascending trendline around ~123.00.
EURO futures confirm our position expectation.
S.L above 126.500 zone
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Note
Price is on the pullback zone currently on .618 fibo retracement, should the price reject this zone then we can shortOtherwise we keep just watching and if the price keep going upside the idea is canceled.
Note
No rejection on the retracement zone and therefore no short opportunity.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.