EUR/JPY - HEAD AND SHOULDER - BUY
POTENTIAL TRADE: EUR/JPY
I am looking to enter Long on this currency pair for the following reasons:
- Price broke below previous support at 119.5, however buyers had enough strength to push price back above key level 119.5
- Head and Shoulder pattern is evident.
- Bearish candles have many wicks to the upside which indicate weak selling pressure.
- Price is trading at key support zone which is also the right shoulder resistance.
If you found this idea useful, leave a like and follow me for more analysis and trading signals.
If you have any questions, feel free to ask in the comment question. I respond to all comments!
You must always use correct risk management when following any analysis. This is just my view, I am not regulated!
Happy Trading!
I am looking to enter Long on this currency pair for the following reasons:
- Price broke below previous support at 119.5, however buyers had enough strength to push price back above key level 119.5
- Head and Shoulder pattern is evident.
- Bearish candles have many wicks to the upside which indicate weak selling pressure.
- Price is trading at key support zone which is also the right shoulder resistance.
If you found this idea useful, leave a like and follow me for more analysis and trading signals.
If you have any questions, feel free to ask in the comment question. I respond to all comments!
You must always use correct risk management when following any analysis. This is just my view, I am not regulated!
Happy Trading!
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