EURJPY Technical Overview: Potential White Swan Pattern

EURJPY Technical Overview: Potential White Swan Pattern

Time Frame: H1 Chart

We have got a sell signal from Cycle Sniper Indicator  at 127.020

Price is closed below EMA50 at 126.730.

However, it is still above SMA100 ( 126.690 ) and SMA200 ( 126.500 ) supports.

We need to see a firm closing below SMA200 to speak about a short-term trend change.

We see a harmonic white swan pattern which will be activated at 126.350. This level can be used for scalping opportunities. Cycle Sniper ATR confirms the corrective level.

After a correction, an H4 closing below 126.350 may send the price 125.950 and 125.520.

We will look for a Cycle Sniper and/or Breakout Sniper  confirmation.

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