EUR/JPY - D1
Our expectations - The main trendline has fallen and we are now seeing ever-lowering tops and bottoms. After the main diagonal breakthrough, the price twice tested the resistance zone, and in both cases we see strong Price Action in favor of vendors. Support for sellers also give the horizontal zone of resistance formed by bottoms and peaks, as well as 23.6% Fibonacci correction of the new trend. 50 and 200SMA are placed in the bear, and the 50-period holds the price for the second time - the level is significant. DeMarker is in a neutral zone near that of over-purchases and does not give a signal. Sequential counts a unit signaling a startup new downward impulse.
SL: 131.86
Alternative Scenario: If the price goes above the resistance zone and stays there in several successive bars, the negative scenario will break and we are more likely to see the euro rise.
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