EUR/JPY

Monthly
• Moving Averages crossed to the upside but pointing downwards
• Price action has on prior months made a bullish structure but it has however been broken I recent moths with price showing a strong bearish reversal
• Monthly resistance level 133.6632 held and price reversed after breaking it
Weekly
• Moving averages crossed to the downwards
• Price action currently showing a strong bearish structure of lower lows and lower highs and structure has become clear reversal from previous bullish structure
• Price made a gap on April 2017 and it was never closed expectation is for it to be closed on current bearish structure
• Price finding resistance on the weekly level of 128.0057
Daily
• Moving averages about to cross to the downside
• Price currently reacting to the weekly resistance level of 120.0057 which is a critical level
• Price action currently reacting to the weekly support level with a second retest
4 Hour [Execution Time Frame]
• Moving averages about to cross to the upside
• P.A has failed to close above weekly resistance level
• Bearish counter trend line drawn into the chart
• Price currently reacting to the 78.60 fib level and has made an inside bar candlestick following this with the mother candle being a strong bearish engulfing candlestick.
• Expectation is for the bearish counter trend line to be broken and for price to continue with current bearish structure