EURJPY has reached a key monthly level which hasn't been broken going as far back as March-April.
Price is looking overextended as it reaches for the monthly high, therefore expecting bears and bulls to start a tag of war at the level in Blue.
As for now, price is ranging (areas in black) and will be looking to take shorts if the market shows depletion in bullish pressure, market structure to the downside and candlestick patterns/rejections.
Cheers.
Price is looking overextended as it reaches for the monthly high, therefore expecting bears and bulls to start a tag of war at the level in Blue.
As for now, price is ranging (areas in black) and will be looking to take shorts if the market shows depletion in bullish pressure, market structure to the downside and candlestick patterns/rejections.
Cheers.