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EUR/JPY Potential Downward Movement

EUR/JPY Long-Term Trend: Bearish

Key Resistance Levels: 127.95, 128.64, 129.77

Key Support Levels: 126.19, 125.65, 124.49

Daily Time-frame:

The price on the higher time frame was trading in a big range for months with a few attempts at breaking the range to the upside. In each successive attempt, the pair made a lower high than the previous one which indicates bearishness. As of now, the price broke the range to the downside and has made a chart low.

EUR/JPY Medium-Term Trend: Bearish

1-Hour Time-frame:

On the lower time frame, the price has been in a downtrend for weeks and it broke a support level of 128.71 and then continued the trend. Recently price broke minor support of 127.40 and did a retest to that level. This shows trend continuation.

Signal Idea:

Sell Stop Order @ 127.03

TP 1 @ 126.42

TP 2 @ 125.87

Stop Loss @ 127.60

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

One comment

  1. I just paid for my membership. THANK YOU! my first real profit in Forex after using real money. I’m keeping an eye out for Vipul Ranthaur for future trades.
    Thank you Pat.

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