EURJPY SELL ON MULTIPLE TIMEFRAMES
Starting with the monthly chart, we can see we have just broken the support of a symmetrical triangle pattern.
Moving onto the weekly chart, we can see we have just been rejected by the retest of the support turned resistance of the previously mentioned symmetrical triangle.
We can also see we have formed a bear flag pattern of which we have just hit some downward resistance (green dotted line)
Moving onto the daily chart we can see we have formed a rising wedge pattern of which we have just touched the resistance, we can expect a drop from here to the triangle support where a dead cat bounce can be expected with a rejection from the downward resistance line (green dotted line) before breaking through the bear flag support. You can see a rough prediction of this via the orange line on the chart.
Moving onto the weekly chart, we can see we have just been rejected by the retest of the support turned resistance of the previously mentioned symmetrical triangle.
We can also see we have formed a bear flag pattern of which we have just hit some downward resistance (green dotted line)
Moving onto the daily chart we can see we have formed a rising wedge pattern of which we have just touched the resistance, we can expect a drop from here to the triangle support where a dead cat bounce can be expected with a rejection from the downward resistance line (green dotted line) before breaking through the bear flag support. You can see a rough prediction of this via the orange line on the chart.
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