EURJPY POTENTIAL SHORT @ ~134.500
After breaking out of the descending triangle as I pointed out in the last idea, prices should now climb back to the ~134.500 area to "test" the previous intermediate demand zone.
Should the zone still be imbalanced another push to the downside is likely.
This level coincides with the 0.50/0.618 of the previous down move and should head to ~132.500 if not lower.
Expect a rally anywhere near ~131.000.
R/R is dependent on how the prices go into the 134.500 zone
Should the zone still be imbalanced another push to the downside is likely.
This level coincides with the 0.50/0.618 of the previous down move and should head to ~132.500 if not lower.
Expect a rally anywhere near ~131.000.
R/R is dependent on how the prices go into the 134.500 zone
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.