Sun, Feb 05, 2023 @ 17:51 GMT
HomeContributorsTechnical AnalysisEUR/JPY Candlestick Patterns Suggest Further Downside

EUR/JPY Candlestick Patterns Suggest Further Downside

The EUR/JPY has been making lower highs and lower lows and the previous retracement has broken the trend line suggesting further downside. If the price gets to 130.10-28 POC (trend line, X cross, EMA89, D L3, WL3, 50.0) we might see another rejection towards 129.50. Break of 129.50 should target 120.20 and only a high downside momentum can push the price towards 128.69 – Weekly camarilla L5 support.

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

Elite CurrenSea Accessible Forex Trading Systems & Education With over 30 years of combined trading experience, we design, test, and provide successful Forex, CFDs & Crypto trading systems and solutions for retail and institutional traders alike.

Featured Analysis

Learn Forex Trading