EURJPY Daily Pattern Provides Sell Opportunity

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EURJPY Daily Range Provides Sell Opportunity

Hi Traders! EURJPY daily pattern provides sell opportunity for us. A detailed analysis of this sell setup is as follows:

EURJPY Daily Chart:

On the daily chart we have a triangle pattern that has formed and the price is respecting this is pattern so far. Currently the price is moving higher towards the top of this pattern. Once the price reaches the top of this D1 pattern, we may then start looking for sells on lower timeframes with bearish evidences.

EURJPY Daily Pattern Provides Sell Opportunity

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EURJPY H4 Chart:

On the H4 chart we may now expect one more push higher with the price reaching the critical zone shown in the screenshot. We may then look for evidences of bearish pressure and then start looking for sells.

EURJPY Daily Pattern Provides Sell Opportunity Invalidation: If the price breaks and holds above the top of the daily pattern and the previous high, then this setup will be invalidated.

Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.

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Regards,

Yordan Kuzmanov
Chief Trader at Traders Academy Club

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