Looks like EURJPY is making a bearish wedge here. Only thing which makes me doubt a bit is that inverse H&S at the start of the wedge. So i am going to be a bit careful here. Normally a wedge is a wedge, but in this case i want to see some confirmation first or get an even better entry. So i will get in at one of those 2 yellow circles. A break of that small channel on the right, will probably show which of the blue line we will see play out.
Previous analysis:
Previous analysis: Reading a long term chart.
Previous analysis:
Previous analysis: Reading a long term chart.
Note
Broke that channel, broke the wedge but now seeing a counter move. I think it's just a short squeeze, but will be watching if it follows that red line or not. Because of moves like these, i chose to wait for that yellow circle to get in. Which didn't happen here
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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.