PAIR HAS BROKE PREVIOUS DAILY STRUCTURE HIGH OF 31-JULY-2020 AND CURRENTLY MAKING COMPLEX PULLBACK. IN THE PROCESS OF DOING SO CHART MAY FORM POTENTIAL HEAD AND SHOULDERS FORMATION ON HOURLY CHART. IN ORDER TO COMPLETE HEAD AND SHOULDERS FORMATION ON HOURLY CHART EUR-JPY MAY RETRACE UP TO 125 MARK. WHAT IS ALSO THE PREVIOUS STRUCTURE RESISTANCE (MIGHT ACT AS STRONG SUPPORT).
AGGRESSIVE TRADERS CAN SELL THE PAIR AT MARKET WITH STOP LOSS ABOVE RIGHT SHOULDER, WHERE AS CONSERVATIVE TRADERS CAN WAIT FOR BREAK OF NECK LINE TO THE DOWN SIDE OR ANY OTHER SIGNAL LIKE DOUBLE TOP, ADVANCED PATTERN NEAR HIGHS OF RIGHT SHOULDER AREA.
BOTH TRADERS CAN LOOK TO HOLD THEIR SHORT POSITION UPTO 125 ROUND FIGURE MARK, WHICH IS ALSO PREVIOUS STRUCTURE RESISTANCE.
AGGRESSIVE TRADERS CAN SELL THE PAIR AT MARKET WITH STOP LOSS ABOVE RIGHT SHOULDER, WHERE AS CONSERVATIVE TRADERS CAN WAIT FOR BREAK OF NECK LINE TO THE DOWN SIDE OR ANY OTHER SIGNAL LIKE DOUBLE TOP, ADVANCED PATTERN NEAR HIGHS OF RIGHT SHOULDER AREA.
BOTH TRADERS CAN LOOK TO HOLD THEIR SHORT POSITION UPTO 125 ROUND FIGURE MARK, WHICH IS ALSO PREVIOUS STRUCTURE RESISTANCE.