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Eurjpyshort

💡Don't miss the great sell opportunity in EURJPYTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (133.42). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . EURJPYis in a downtrend, and the continuation of the downtrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 42. Take Profits: TP1= @ 133.10 TP2= @ 132.92 TP3= @ 132.73 TP4= @ 132.51 TP5= @ 132.34 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex / Crypto trader ? Now, It's your turn ! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
6
It's time to Sell EURJPYTechnicals: EURJPY in a downtrend since the beginning of 2019   The technicals are generally well defined here, with a large channel inside of which the downtrend has traded for the whole year of 2019.   Switching to the 4-hour chart, we can see more details of the price action. There is a smaller bearish 14-day channel within the larger (more significant) yearly channel, which is also well-defined, as shown on the chart below.   Judging by the overall fundamentals and technicals, it’s quite possible that this smaller bearish channel will be broken to the downside - accelerating the bearish trend. Hence, looking to sell EURJPY toward the resistance trendline of this smaller channel (118.00 area) could offer excellent opportunities to position for potentially large bearish moves. Entry: 1st: Look to sell a rally toward 118.00; likely to allow a tighter stop 2nd: Enter short on a bearish breakout of the small channel (currently that is below 117.00); likely will need a larger stop and will require more confirmation from fundamentals and technicals against a fake breakout. Stop loss: 1st: Above 118.00 in the 1st scenario 2nd: Above breakout point in the 2nd scenario; the 117.50 - 60 area looks interesting in this regard. Still, however, this stop level needs to be considered at the time of entry, so a different level might be more appropriate according to the situation. Targets: 1st: - At the 117.00 support trendline of the small channel - This could be an initial target in the 1st scenario (of entry around 118) 2nd: Main target toward the support trendline of the channel (presently around 115.00 - 114.50 area);
Short
by veens_m