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EURJPY H1 Chart Harmonic Overview

EURJPY H1 Chart Harmonic Overview

EURJPY retested 125.500 resistance and rejected.

Bearish RSI Divergence on H4 Chart

Double Top pattern would become validated by the breakout of 125.000. The measured move target of the pattern is 50 pips.

Trade: Short

Entry: 125.270 – 125.250

Stop: Above 125.555

Target 1: 125.000 / Reached

Target 2: 124.600

Bullish Cypher pattern would be completed at 124.600. I will update according to the price action.

Update: Price reached 125.000 neckline. Breakout of the neckline would validate the double top pattern.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

EURJPY: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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