EUR/JPY
moved sharply to the downside today after the pair formed a spinning top candlestick
on the daily time-frame at 133.30 yesterday. What is more, the pair has also
formed candlesticks signaling for a likely move to the downside both on the
four-hour and weekly time-frames, namely a hanging man candlestick on the
former and a shooting star on the latter.
Currently
EUR/JPY has almost reached the (MA)89 indicator on the daily time-frame at
132.20 and the question is, of course, whether there will be a breakout below
that support. Considering the abovementioned candlesticks there may be one and
the move to the downside will probably continue towards 131.00 or even to
130.00.
There is room for further decline.
ReplyDelete