EURJPY 4hour Analysis June14th, 2020
EURJPY Short Idea
As expected we saw a huge reversal from a key resistance zone around 123.500 last week.
From the current level we want to see bearish momentum continue and break support levels on our way down confirming this transition.
If we see strong bearish setups at the current level a short entry would present itself. Look to target lower toward the 61.8% fib and key support around 119.850 for our first target.
If we see the 119.850 level break and retest followed by bearish confirmations we could see this pair drop significantly. Look to target toward 116.500.
As expected we saw a huge reversal from a key resistance zone around 123.500 last week.
From the current level we want to see bearish momentum continue and break support levels on our way down confirming this transition.
If we see strong bearish setups at the current level a short entry would present itself. Look to target lower toward the 61.8% fib and key support around 119.850 for our first target.
If we see the 119.850 level break and retest followed by bearish confirmations we could see this pair drop significantly. Look to target toward 116.500.
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