FX:EURJPY   Euro / Japanese Yen
Good morning traders,

Looking to change up our recent technical analysis 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 Evening Star candle forming on the daily over the 15th and 16th. Evening star are early indicators of a future bearish trend forming.

This coincides with Bearish 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 Ichimoku cloud (trading significantly above it), RSI , 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

find us on instagram, twitter and Alexa flash briefings
Trade active: Trade up 85 pips profit- stop loss moved up.

another win


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out