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EURJPY Technical Overview and Trade Opportunities
EURJPY Technical Overview and Trade Opportunities
H1 TF Harmonic Readings:
Bearish Crab Pattern Completed at 125.150
Potential Bearish Deep Crab at 125.500
Indicators:
H4 Cycle Sniper achieved overbought levels and the key horizontal line. Retracement is expected soon. ( Please note we do not have the signal yet. )
H1 Chart:
Price Action Sniper sent the first reversal warning at 125.000.
Cycle Sniper has not signaled yet.
Murrey Math and Moving Averages:
H4 Murrey Math Support 1 : 124.600 Support 2: 124.200 Support 3: 123.850 ( W1 MA200 )
H4 Murrey Math Resistance 1: 125.000 Resistance 2: 125.300 Resistance 3: 125.730
Trade Plan:
As seen on the chart, the price is still far above the key fractal support line.
Short by the breakout of the fractal support. Targets are 124.000, 123.800 ( Key Support Line ), 123.500 and 123.100.
Short if price fills the deep crab pattern at 125.700.
We wait for Cycle Sniper H1 confirmation or Price Action Sniper Sell Signal as a confirmation tool.
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
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.
