🔹Technical Analysis: EUR/JPY 4-Hour Chart
▪️ Resistance Zone:
Price is currently testing the 164.80-165.40 resistance area, a level that previously acted as a strong supply zone and triggered reversals.
▪️ Demand Zone (Target Area):
A potential retracement may occur toward the 162.80-163.20 demand zone, where prior bullish momentum originated, indicating a key support area.
▪️ Price Action & Market Structure:
After a sharp rally, EUR/JPY is showing signs of exhaustion near resistance. If price fails to break above this level with strong conviction, a rejection and short-term reversal may follow.
▪️ Outlook:
Bias is bearish in the short term with a possible pullback from resistance toward the demand zone. Traders should monitor for bearish confirmation patterns such as rejection wicks or engulfing candles before entering short positions.
▪️ Volume Observation:
Recent volume spikes suggest active participation, supporting the likelihood of a short-term move once direction is confirmed.
🔹Community Insight:
If you find this analysis helpful in your trading journey, feel free to share your thoughts or questions in the comments. Let’s work together to maintain a disciplined, technical approach to the markets.
▪️Follow for regular updates and trade setups.
▪️ Resistance Zone:
Price is currently testing the 164.80-165.40 resistance area, a level that previously acted as a strong supply zone and triggered reversals.
▪️ Demand Zone (Target Area):
A potential retracement may occur toward the 162.80-163.20 demand zone, where prior bullish momentum originated, indicating a key support area.
▪️ Price Action & Market Structure:
After a sharp rally, EUR/JPY is showing signs of exhaustion near resistance. If price fails to break above this level with strong conviction, a rejection and short-term reversal may follow.
▪️ Outlook:
Bias is bearish in the short term with a possible pullback from resistance toward the demand zone. Traders should monitor for bearish confirmation patterns such as rejection wicks or engulfing candles before entering short positions.
▪️ Volume Observation:
Recent volume spikes suggest active participation, supporting the likelihood of a short-term move once direction is confirmed.
🔹Community Insight:
If you find this analysis helpful in your trading journey, feel free to share your thoughts or questions in the comments. Let’s work together to maintain a disciplined, technical approach to the markets.
▪️Follow for regular updates and trade setups.
Trade active
Note
price is rejecting from resistance level
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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.
Related publications
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.