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Euro / Japanese Yen
Short

EURJPY: Bearish Continuation

By VasilyTrader
Updated
snapshot

EURJPY retested a broken support line on a major parallel channel on a daily.

on 4h the price formed a sequence of reversal candles:
dodji + rejection candles,
bearish engulfing candle

+ the retest point matches perfectly with a 618 fib.retracement of the last bearish impulse on 4H.

based on that the probability that the price will start falling is very high.

initial target 125.0
Note
Check new analysis on USDCHF!!!
USDCHF: Scenarios & Key Supply/Demand Points
Candlestick AnalysisEUREURJPYeuroFibonacciforecastjapaneseyenParallel ChannelswingTechnical Analysistradingyen
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