Hi everyone,
Please see attached my EURJPY analysis on the 4h timeframe.
As we can see on the chart the price gas fell to the level i mentioned in my previous EURJPY analysis which we were looking for price to pull back to.
On the chart the price has pull backed to a well respected level which has been respected on numerous occasions as i have highlighted on the chart.
Price has tapped into the oversold area on the RSI before rising a few pips to then take it out of this area, this could be a potential sign price is due to rally to the upside.
If we go down to the 30M timeframe we can see that a bullish inverted hammer was formed on the key level also giving us an indication that price could be reversing.
Watch closely for the next few candles that form and also keep an eye on the 15M and 30M timeframes for patterns to try pin point your entry.
Any likes and comments would be appreciated.
Follow for daily updates!
DWFX
Please see attached my EURJPY analysis on the 4h timeframe.
As we can see on the chart the price gas fell to the level i mentioned in my previous EURJPY analysis which we were looking for price to pull back to.
On the chart the price has pull backed to a well respected level which has been respected on numerous occasions as i have highlighted on the chart.
Price has tapped into the oversold area on the RSI before rising a few pips to then take it out of this area, this could be a potential sign price is due to rally to the upside.
If we go down to the 30M timeframe we can see that a bullish inverted hammer was formed on the key level also giving us an indication that price could be reversing.
Watch closely for the next few candles that form and also keep an eye on the 15M and 30M timeframes for patterns to try pin point your entry.
Any likes and comments would be appreciated.
Follow for daily updates!
DWFX
