EURJPY Drop expectations
Sorry for the messy chart BUT:
The blue bars representing strong Weekly Resisitance and support zone's
As seen on the daily timeframe we can see that prices are currently being rejected ( see orange trendline which is drawn on the 4H)
The Fib tells us that prices are currently within the Golden zone (0.618 and 0.5)
Via the 1H Timeframe i personally think prices will drop again and EURJPY will make long runs again like the rest of this week.
We can see on the 1H hat prices are consolidating right now . but i think we can drop back to the 126.150 Support area again and probarly even further down to 125.900 support before going upwards again.
See picture below :
Its a messy chart but basicly pretty simple and logic price action/movement.
Have a great weekend!
The blue bars representing strong Weekly Resisitance and support zone's
As seen on the daily timeframe we can see that prices are currently being rejected ( see orange trendline which is drawn on the 4H)
The Fib tells us that prices are currently within the Golden zone (0.618 and 0.5)
Via the 1H Timeframe i personally think prices will drop again and EURJPY will make long runs again like the rest of this week.
We can see on the 1H hat prices are consolidating right now . but i think we can drop back to the 126.150 Support area again and probarly even further down to 125.900 support before going upwards again.
See picture below :
Its a messy chart but basicly pretty simple and logic price action/movement.
Have a great weekend!
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