EUR/JPY
Time frame: H4, D1
Technical Analysis: The chart shows that the price is moving in a downward trending channel. Currently, it is on the middle resistance of the Trend Channel, and at the same time it is below 200 EMA. Fibonacci was designed from the top registered on 20.03.19 to the bottom registered on 28.03.19. At the moment, the price is just under 50% on Fibonacci, and if the H4 closes below it, this will be an extra signal that the strength of the bulls has fallen. If we move on the D1 chart, we can see that the price is below 50 EMA, which plays a role of strong resistance.
Indicators: The price is below 200 EMA, and for the time being it shows strong resistance to the price.
The price is over 50 EMA, and for the moment it is price support.
DeM- In neutral territory and does not give signals at this stage.
Entry into Deal: From current levels.
SL: 125.70
Alternative Scenario: If the price can break the middle resistance of the channel, 200 EMA and 50% Fibonacci, it will continue to rise to the upper resistance of the trend channel and 61.8% in Fibonacci from where we can look for new "sell" positions.
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