Dear Traders,
The EUR/JPY has formed a bearish M pattern and the 4h close below 117.55 is targeting lower levels.
The EUR/JPY should proceed further down if the price makes a close below Wizz 2. 1 2 3 Bearish M pattern has been formed. JPY strength is obvious vs EUR and USD and we can see the targets. Below 117.55 watch for 117.34 W L4 camarilla then 117.01 and 116.70-63 as the final targets. As long as the price is kept below 118.50 bears have nothing to worry about.
The analysis has been done with the CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.
Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea
Leave a Reply