EURJPY Price action has recently been moving to the downside in a choppy and volatile fashion. On the 4H chart, we can see price has reached a confluence level at the 120.27 region, a short term role reversal level as well as sitting above the 61.8% Fib level and forming ABCD harmonic wave pattern. My short term bias for this pair favours the downside targeting the 118.70-118.90 area.
Comment:
SL Hit. Looking for a re-entry to sell. Will monitor price action for buying exhaustion and selling opportunities.
S/L: 120.45
T/P: 118.80