Hi Traders. In the previous few analysis i've been calling short opportunities on EURJPY as price has rejected the 143.90 - 144 key resistance level multiple times.
As price is moving down according to plan, I believe there is more room for price to move downwards.
The only structure that's determining my short-term bias is 142.90 - 143, which is the base of the Double-Top formation.
Because if you think in terms of most sellers psychology, most of their pain-point will be around 142.90 - 143, as long as price stays below most sellers will still hold their position.
But if at any point price pops above 143, then we'll need to re-assess everything.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
As price is moving down according to plan, I believe there is more room for price to move downwards.
The only structure that's determining my short-term bias is 142.90 - 143, which is the base of the Double-Top formation.
Because if you think in terms of most sellers psychology, most of their pain-point will be around 142.90 - 143, as long as price stays below most sellers will still hold their position.
But if at any point price pops above 143, then we'll need to re-assess everything.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
