Moving onto EurJpy, we could start analyzing this pair on the larger timeframes. On the monthly chart, we could notice that price is overextending into a non-horizontal resistance level. This leads me to believe the long-term bias is bearish for this pair.
Scoping down to the daily timeframe, I've identified a daily support/resistance level of interest. If price could drop below this level, I'll be looking for more downtrend structure to be established before going short.
Scoping down to the daily timeframe, I've identified a daily support/resistance level of interest. If price could drop below this level, I'll be looking for more downtrend structure to be established before going short.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.