EUR/JPY is Bearish as Long as the Price is Below D H3

Veljača 08, 2018 16:16

The EUR/JPY is still bearish despite the spike that happened just after the BOE conference today when the move in equities also moved the EUR/JPY. As long as the price is below 134.65 we could see 134.10 and 133.52. There is still an impulse to the downside as I showed on Real Time Trading Ideas today. Spikes could probably be shorted and the target is 134.08. if the price breaks 134.00 next targets are 133.89 and 133.52. Only above 134.65 the pair could turn bullish targeting 135.19.

W H1 -. Weekly Camarilla Pivot (Interim resistance - Weak)

W H2 - Weekly Camarilla Pivot (Weekly resistance)

W H3 - Weekly Camarilla Pivot (Weekly resistance - main)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

W L4 - Weekly Camarilla Pivot (Interim support - Strong)

W L3 – Weekly Camarilla Pivot (Interim support - Main)

W L2 – Weekly Camarilla Pivot (Interim support)

W L1 - Weekly Camarilla Pivot (Interim support - Weak)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

Follow @TarantulaFX on twitter for latest market updates

Sign up for Live Trading Webinars with Nenad Kerkez T

Connect with Nenad Kerkez T on Facebook for latest market update