EURJPY ShortHey traders, in this week we are monitoring EURJPY for a selling opportunity around 135.6 zone, once we will receive any bearish confirmation the trade will be executed.
Trade safe, Joe.
Bearisheur
Bearish outlook on EURJPYMy overall bias on EJ is bearish.
Initially, price found support at the monthly/weekly support zone.
Price then began to make a series of higher highs and higher lows, which serves as confirmation that price was an in uptrend.
Then price met resistance at the daily resistance zone.
The daily resistance zone also correlates with the purple trend line and price has also been respecting this as well.
It appears that price has somewhat formed a double top. I am expecting price to break the neckline (which is the last higher low) and continue downward and potentially test the 50.0-61.8 fib levels.
EURUSD Bearish IdeaLooking to sell EURUSD
I am expecting the dollar to continue to gain some strength, which in turn will cause a weaker euro.
I think price will retest the previous low and find support at that area (the green zone).
I am expecting tp at the 1.163 area.
Short EURUSD : Double Top @ resistanceAs we got double top in EURUSD we can initiate short positions. If first swing high is also taken into account we have triple top in EURUSD and if you note the RSI it showing bearish divergence which makes the double top more valid. Check your risk Reward before entering any trade.
Hit Likes if you agree...Thanks for your support !
Happy Trading !
