EUR/JPY Bearish Move as SHS Pattern Progresses

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The EUR/JPY shows bearish continuation signs. The price is very bearish as the shoulder-head-shoulder pattern progresses. 

We can see on the chart a giant head and shoulders pattern. 117.50 zone is the bottom of the right shoulder and we should see a move lower. The 4h timeframe shows a clear bearish momentum too where 116.60 is support. This is the final target for the intra week swing move. A close below 116.60 and the price will continue to 116.00 and lower.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

 

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