EUR/JPY Is Melting SOON! Be Ready
120.00 level has been a strong level for EJ . On a weekly and daily basis you can notice that the main direction is bearish. right now the price is standing at 120.00 area. Another confirmation for the bearish direction is that 120.00 is around a very important Fibonacci level that can push the price to the downside.
Once you see a bearish price action around 120.00 you can enter a sell trade directly a target 110.300 .
if you are a conservative trader and wish to see a clearer confirmation you can draw this counter trend line and wait for breakge and retest then enter sell trade.
what invalidates this analysis is that the price break the daily trend line and 120.000 to the upside. in this case you can change ans think about entering a buy trade
Once you see a bearish price action around 120.00 you can enter a sell trade directly a target 110.300 .
if you are a conservative trader and wish to see a clearer confirmation you can draw this counter trend line and wait for breakge and retest then enter sell trade.
what invalidates this analysis is that the price break the daily trend line and 120.000 to the upside. in this case you can change ans think about entering a buy trade
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