EURJPY Sell Idea
W1 - Double cycle up completed, we may now expect the price to move lower until it reaches the 38.2 fibo retrace zone of this entire double cycle.
D1 - Price broke at the top of the range, if this turns out to be a false break, we may then expect the price to move lower until it reaches the bottom of this range. If the price breaks below the bottom of this range then we may expect it to move lower until it reaches the 38.2 fibo retrace zone of the weekly double cycle.
H4 - Double wave up, bearish divergence. Once we get a breakout of the uptrend line, we may start looking for sells.
D1 - Price broke at the top of the range, if this turns out to be a false break, we may then expect the price to move lower until it reaches the bottom of this range. If the price breaks below the bottom of this range then we may expect it to move lower until it reaches the 38.2 fibo retrace zone of the weekly double cycle.
H4 - Double wave up, bearish divergence. Once we get a breakout of the uptrend line, we may start looking for sells.
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