EUR / JPY: Daily graphics - downtrend, 4h. graphics correction to levels of horizontal resistance
Fibonacci correction up to 50% of the last down movement
Price on horizontal resistance 124.674
price action: Inverted pin bar of resistance - negative formation, which is a reversal of short-term movement
Price correcting 50% of the last bar, which gives us a good place to market positioning.
indicators:
50 / 200MA - 50 under 200 which is a negative signal, price below 200MA
DeM is at 0.7
SL: 125.32
Alternative scenario: Crossing the price above horizontal resistance and 200MA will break the negative trend and is likely to see an increase in price.
Jr_Trader_I_Ivanov
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