eurjpy technical analysis
eurjpy price movement become bearish by looking the technical analysis
eurjpy pair close below 131 area during the session on last fridaywe can see on the charts few things that show to us the bearish move on this pair
The intersection of the tracks began in 2013 and marked a positive direction, currently turned negative in two years
second the technical format : we can see The rounding top pattern at the charts is a reverse U-shape, also called a “reverse saucer. ” The top is rounded with a flat top.
The neckline
of the pattern is constructed by the lowest point before the formation of the
reverse U. rounding top can be a bullish continuation pattern but also a
downward continuatio pattern
Breaking threshold configuration, will lead the pair lower targets, while in terms of subsidies and technical levels Areas which need to emphasize are the first stage in the 130 area round, the second stage 128.30-50 When the above area will lead to the breaking of the pair 125-126 there is a support strap derived from the template and target
In the bigger picture, the break of 134.30 support should confirm medium term topping at 149.76, on bearish divergence condition that reflect from the charts: the resistance yellow band
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