EUR/JPY- 4 Hour overview

2020년 11월 29일

-Hello everybody!

-On a 4-hour chart we can see that the price reached a strong supply zone and we can see that the price did not broke that area but also we can see that the bullish momentum is still very solid and I suggest to wait for a breakout in a bullish direction or to wait for bearish candles to form like shooting star or a bearish engulfing to take a short position.

-We can see that EUR JPY was very bullish this week and if you open a weekly chart you will see that the price closed a very strong bullish candle and that the price formed a very strong bullish engulfing candle so we may expect that the price will continue moving in a bullish direction.

-On a monthly chart we can see also that EUR performed much better than Jen this month and on the monthly chart we can also see a bullish engulfing candle and that is also a good sign that the price might go in a bullish direction.

-Before taking action in Forex, please check the economic calendar and currency strength meter.

-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!

THANKS FOR READING!

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-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.