🇪🇺 EURJPY 🇯🇵 - Flag against a bearish trend
Updated
The EURJPY currency pair may continue to fall as accumulation is forming amid the bearish trend. There is a weak flag on the downtrend, which is a set-up for further price decline. Besides, the false breakdown of resistance also indicates the market sentiment
Reasons for further decline ↓
1) range formation on the background of the dovntrend
2) resistance retest and false breakdown at 157.69
3) bearish trend
4) weak fundamental background for the yen
Reasons for further decline ↓
1) range formation on the background of the dovntrend
2) resistance retest and false breakdown at 157.69
3) bearish trend
4) weak fundamental background for the yen
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