Euro / Japanese YenShort
EURJPY- MAJOR DIRECTION BEARISH!!
Making sense out of this weeks trading is very hard, only EURJPY chart with PA this low before, is 1 M chart. From attached chart this month (June- 2016) has formed a very long red bearish candlestick. Note this very long red candlestick has NO upper shadow or wick & all pressure is market to go lower still. PA & ema 50 will be doing a death cross with ema 200 very soon. RSI on bottom is under 50. PA this month has broken below Ichimoku cloud.
Big Question is: How low will it go??
The low noted on monthly chart is 94.114, which almost 4 years ago. In my opinion-- nothing is stopping EURJPY pair from continuing to at least the low of 108.00 next week. That would be next SUPPORT area on this chart. Be careful & trade with your brain and eyes 1st-> what you see with PRICE ACTION will keep you trading with TREND.
Big Question is: How low will it go??
The low noted on monthly chart is 94.114, which almost 4 years ago. In my opinion-- nothing is stopping EURJPY pair from continuing to at least the low of 108.00 next week. That would be next SUPPORT area on this chart. Be careful & trade with your brain and eyes 1st-> what you see with PRICE ACTION will keep you trading with TREND.
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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.