EURJPY is in important demand zone.
Price may bounce and turn back after this test that's why having stop loss right over the area is needed.
Long term trend is DOWN, in case of rejection trend should change.
There is a nice clue under the area, a very long wick.
This bar might have triggered all buy orders and finish all the buyers in that area. So if there is no new buyer price will easily fill this length of the wick.
Price may bounce and turn back after this test that's why having stop loss right over the area is needed.
Long term trend is DOWN, in case of rejection trend should change.
There is a nice clue under the area, a very long wick.
This bar might have triggered all buy orders and finish all the buyers in that area. So if there is no new buyer price will easily fill this length of the wick.