EUR/JPY Trade Watch Update
02/17/2020 - 3:21 PM ET (UTC-5)
Reversal Scenario - If market buyers are going to overtake sellers, need to see a confirmed Sanyaku Kouten reversal. If so, will place a buy on price close above the Kumo.
Trend Continuation Scenario - Based on the Daily Chart, EUR/JPY is still in a solid downtrend. Waiting to see if price retraces into the Kumo, then pushes down again with a full Sanyaku Gyakuten bearish signal to sell.
02/17/2020 - 3:21 PM ET (UTC-5)
Reversal Scenario - If market buyers are going to overtake sellers, need to see a confirmed Sanyaku Kouten reversal. If so, will place a buy on price close above the Kumo.
Trend Continuation Scenario - Based on the Daily Chart, EUR/JPY is still in a solid downtrend. Waiting to see if price retraces into the Kumo, then pushes down again with a full Sanyaku Gyakuten bearish signal to sell.