EURJPY

EUR/JPY on the 4 hours chart is currently contemplating a bearish breakout.

If you zoom out to the weekly chart, you will observe that:

Last week, price hit a weekly resistance level (125.640) on Monday, and it spent the rest part of the week observing a bearish run.

On the 4 hours chart, EUR/JPY is about to breakout from an ascending support level. The pair is still contemplating though as we can see a consolidation.

Personally I will be waiting a few hours into Monday, before I decide on taking this trade. It’s one trade I am looking forward to.

EUR/JPY Technical Analysis: Immediate support-line challenges sellers around 124.30

Eurjpy pair seems to want to pullback from the previous bearish trend and right on the h4 timeframe the price makes a cb1 candle pattern or where the seller's condition is turned off by the buyer. Prices on this pair buy even though they are not yet in the demand area h4.

Pada d 1 Anda dapat menjual dari 125,30, dengan tujuan pertama di 123,70 dan tujuan kedua di 121,00, stokastik berada di zona overbought.

Pada m 30 Anda dapat menjual dari persegi panjang merah dengan tujuan pertama di 124,30 dan tujuan kedua di 123,40, stokastik adalah di zona overbought.

this morning seeing the symptoms, the price will continue its bullish trend towards the daily supply zone.
In the supply zone, usually there will be a price action formed there that will give us the clue whether to continue, the bullish trend or turn to bearish.

At d1 you can sell from 125.30, with the first goal at 123.70 and the second goal at 121.00, stochastic in the overbought zone.

At m30 you can sell from the red rectangle with the first destination at 124.30 and the second destination at 123.40, stochastic is in the overbought zone.

the condition is rather like UCAD but the opposite, at EJ the signal is bullish but the movement tends to be controlled by the seller, even this morning the price has been bearish and breakout support daily 124.942, actually this means the EJ signal is bullish bias, then we wait for the price to move up again and breakout up 124,942, for now just wait n see

Since yesterday, buyers for the euro / yen pair have begun to be active, as a result, prices pushed the lower limit of the trade channel up, where the pair is trading on the H4 chart and rising, and a small southern retreat today gives me the opportunity to open a purchase order for prices more profitable.

Let's analyze using Price Action analysis (Trader Pressure), In the market trend EURJPY still looks Bearish / Downtrend, but we also have to anticipate a trend reversal if the price breaks the Resistance area above and also price consolidation.

In the history of the candle, we can look for opportunities for Sell entry because the long term is still in the Downtrend effect,

I don't agree. Now I see Eurjpy will buy. Because it has touched the support line

Prices for the euro / yen pair today fell back to the lower limit of the upward trading channel, where the pair is trading on the H4 chart, and my purchase agreement has changed from positive to losing, but as long as the pair remains in the upward channel, there is a trend upward Price movements to the north are the main one, and purchase transactions are a priority.

The opening price is below the 124.95 pivot which indicates a downtrend.
The MACD Histogram is below the zero level.
Indicator Parabolic SAR (step 0.02, max 0.2) indicates the price is heading down.

Trading recommendations: Sell.
TP: At the support level.
SL: One level above the entry point.