EURJPY potential bearish reversal
on WEEKLY: price is overall bearish making lower lows and lower highs inside our brown channel, and it is currently sitting around our upper trendline so we will be looking for objective trend-following sell setups on lower timeframes.
keeping in mind that price can still test our upper red resistance in red before going downward.
on H1: price is trading inside our red channel (not valid yet) so we are waiting for a third swing to form around our lower red trendline to consider it objective and enter on its break downward.
we also have divergence on MACD adding more confluence to our sell setup.
Meanwhile, EURJPY would be overall bullish.
keeping in mind that price can still test our upper red resistance in red before going downward.
on H1: price is trading inside our red channel (not valid yet) so we are waiting for a third swing to form around our lower red trendline to consider it objective and enter on its break downward.
we also have divergence on MACD adding more confluence to our sell setup.
Meanwhile, EURJPY would be overall bullish.
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RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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