EURJPY Daily Analysis 5/17/20
EURJPY Short Idea
This pair is very bearish on higher timeframes and is also in a very strong daily bearish channel, much like EU
In the last couple weeks we saw a break of our major monthly support level followed by a retest which confirmed a Lower High.
From the current level we want to see bearish setups which would be confirmation enough to enter short.
Right now it’s looking like a 4 hour double top which further confirms our short bias.
The blue arrow represents a high probability trade we will take once we have the entry confirmation. Look to target lower toward major support levels.
This pair is very bearish on higher timeframes and is also in a very strong daily bearish channel, much like EU
In the last couple weeks we saw a break of our major monthly support level followed by a retest which confirmed a Lower High.
From the current level we want to see bearish setups which would be confirmation enough to enter short.
Right now it’s looking like a 4 hour double top which further confirms our short bias.
The blue arrow represents a high probability trade we will take once we have the entry confirmation. Look to target lower toward major support levels.
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