EURJPY: Bearish Outlook Explained 🇪🇺🇯🇵

Short

Euro / Japanese Yen (OANDA:EURJPY)

OANDA:EURJPY Euro / Japanese Yen

Head and Shoulders Support and Resistance Multiple Time Frame Analysis EURJPY euro jpy japaneseyen yen priceaction forecast signals Contains image

headandshoulders supportandresistance mtfa eurjpy euro jpy japaneseyen yen priceaction forecast signals containsimage

snapshot

After a test of a significant daily structure resistance,
EURJPY retraced and formed a head and shoulders pattern on a 4H time frame.

Before the market closed, the price violated its neckline and closed below that.
It is an important sign of strength of the sellers.

The pair may keep falling now to 156.7 support level.

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