EURJPY: Inside Bar & Complete Indecision 🇪🇺🇯🇵

8 Sep 2021

EURJPY is trading on a strong daily key level.
The price formed an inside bar formation on that signifying complete indecision.

On 6H time frame we can see in detail how the price acts:
the pair is stuck within a narrow horizontal trading range.

130.75 is its resistance
130.15 is its support

From a current perspective I see two potential scenarios:

• Bullish
  In case of a bullish breakout of resistance of the range,
  bullish continuation will be expected
  
  Next daily resistance will be 131.07
  
  
• Bearish
  In case of a bearish breakout of support of the range,
  bearish move will be expected
  
  Next support will be 129.675
  

I am on a bearish side and will trade only in case of a bearish breakout,
but who knows.

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9 Sep 2021

Catatan

Check my new analysis on GBPNZD: