EurJpy Short Idea
Ej has been primarily bearish on the weekly and even monthly time frames. So we are going to stick with the trend!
Current price action was just rejected from the weekly resistance around 119.150 last week. A weekly 50% fib level was rejected and prior structure was tested.
What does this mean?
Lots of bearish pressure is still present in this pair. We will look for more rejection and confirmation around the 38.2% (the red zone) early this week and will look to short.
We will target the 0% fib level around 115.850 and then we will target the next monthly zone near 112.000
Ej has been primarily bearish on the weekly and even monthly time frames. So we are going to stick with the trend!
Current price action was just rejected from the weekly resistance around 119.150 last week. A weekly 50% fib level was rejected and prior structure was tested.
What does this mean?
Lots of bearish pressure is still present in this pair. We will look for more rejection and confirmation around the 38.2% (the red zone) early this week and will look to short.
We will target the 0% fib level around 115.850 and then we will target the next monthly zone near 112.000
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.