Hi peeps,
Found an interesting set up for EURJPY which was worth looking at.
Currently the market is in a downtrend and we can clearly see that price rejection was pretty strong on the resistance / trend line channel. Thus, i do make of it that the price may continue down to the bottom of the trend line channel.
For a bullish divergence, the price would need to break above the resistance area and out of the trend channel for a potential breakout move. This would be valid only if the candle close is right above the resistance point.
Disclaimer: This is not an investment advise but rather my thoughts on the price movement for EURJPY . Do share your thoughts and your feedback about my analysis :)
Cheers
Pips Punk
Found an interesting set up for EURJPY which was worth looking at.
Currently the market is in a downtrend and we can clearly see that price rejection was pretty strong on the resistance / trend line channel. Thus, i do make of it that the price may continue down to the bottom of the trend line channel.
For a bullish divergence, the price would need to break above the resistance area and out of the trend channel for a potential breakout move. This would be valid only if the candle close is right above the resistance point.
Disclaimer: This is not an investment advise but rather my thoughts on the price movement for EURJPY . Do share your thoughts and your feedback about my analysis :)
Cheers
Pips Punk