EURJPY - Retracement Complete?
EURJPY presenting bearish confluences after making a strong rejection (previous H4 bearish engulfing) from the 124.000 psychological area during the Asian session.
JPY appears to have strengthened over the Asian session also with other XXXJPY pairs devaluing in price.
EURJPY has also rejected the 200 EMA, appearing to have completed a retracement to the descending trendline.
I now expect price to reach the previous swing low at around the 122.400 area.
JPY appears to have strengthened over the Asian session also with other XXXJPY pairs devaluing in price.
EURJPY has also rejected the 200 EMA, appearing to have completed a retracement to the descending trendline.
I now expect price to reach the previous swing low at around the 122.400 area.
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