Looking to change up our recent examples this time with a clean trade on Euro versus Japanese Yen. The beat on Chinese gdp and Industrial production gave a risk on tone overnight leading to Yen weakening but also, for this pair, an candle forming on the daily over the 15th and 16th. are early indicators of a future forming.
This coincides with Harami pattern forming on the 4 hourly on Friday as suggesting that the pair is due to correct lower. Other technical indicators also line up such as (trading significantly above it), , stochatsics and long running resistance levels to the upside.
As always this is not a trade recommendation and simply technical observation.
Good luck trading
from the Team at forexTrdr
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