EURJPY Short term sells with long term buys
Confluences
-EURJPY is heavily uptrending and although we left a wick to the upside, the weekly candle was still an engulfing and we believe this wick is going to get filled
- On the daily timeframe we have broken through resistance and used it as support by impulsing with a bullish engulfing candle
- We have broken the counter trend which looks in the form of a falling wedge showing the slow down in momentum from sellers
- Price also formed a double bottom
-EURJPY is heavily uptrending and although we left a wick to the upside, the weekly candle was still an engulfing and we believe this wick is going to get filled
- On the daily timeframe we have broken through resistance and used it as support by impulsing with a bullish engulfing candle
- We have broken the counter trend which looks in the form of a falling wedge showing the slow down in momentum from sellers
- Price also formed a double bottom