EURJPY Flag in the Flag
Hi guys, here is my analysis for the week on 
EURJPY.
Thanks to the SMA(200) we can clearly see thatEURJPY is in a strong bearish trend.
At the moment we can see a retracement that formed a bearish flag pattern.
Inside this flag we can see a bullish flag pattern formed in the bullish' trend retracement.
There are 3 possible scenarios:
For any question or suggestion, comment below.
Thanks for reading.
EURJPY.Thanks to the SMA(200) we can clearly see that
EURJPY is in a strong bearish trend.At the moment we can see a retracement that formed a bearish flag pattern.
Inside this flag we can see a bullish flag pattern formed in the bullish' trend retracement.
There are 3 possible scenarios:
- Sell at the bearish flag break (TP1: at the begin of the bearish flag begin at 115.831. TP2: use trailing stop);
- Buy at the bullish flag break. As confirmation wait that the break happen close as possible to the bearish flag trendline (TP: resistance at the begin of the bullish flag at 121.276);
- Sell at the resistance at the begin of the bullish flag at 121.276 (TP1: at the begin of the bearish flag begin at 115.831. TP2: use trailing stop).
For any question or suggestion, comment below.
Thanks for reading.
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.