This is a potential short on EurJpy

On 4 Hour Chart, unless the EurJpy penetrate the upper downsloping channel, more than likely the EurJpy pair will resume bearish for potentially 350 Pips. THe bullish current move seems to me like a corrective pattern. So I will wait for a setup on the lower time frame, say 1 Hour Chart

EurJpy Forex Pair 1 Hour Chart
EurJpy Forex Pair 1 Hour Chart

On the 1 Hour Chart, this is the move that I would expecting. The daily range of EurJpy is around 100 Pips, so I will expect this 200 Pips will be achieved in 2 Days. I will look for a test to the upper channel then resume bearish, ot break of the lower channel and a pullback/retest


Please enter your comment!
Please enter your name here