Daily Support – Right now EURJPY is trading near the daily support level at 116.75 which was tested in multiple times in previously.
Inverse Head and Shoulders Pattern – As this minor trend met the daily support it shows some weaknesses to break below this level. As a result, price starts forming an inverse head and shoulder pattern at the support.
Trade Idea – Consider going long if price broke above neckline strongly.
Analysis From - Trade Revenue Pro
Disclaimer: Trade Revenue Pro’s view on the Forex Charts is not advice or a recommendation to trade or invest, it is only for educational purposes. Don’t Blindly Buy or Sell any Asset, Do your own analysis and be Aware of the Risk.
Inverse Head and Shoulders Pattern – As this minor trend met the daily support it shows some weaknesses to break below this level. As a result, price starts forming an inverse head and shoulder pattern at the support.
Trade Idea – Consider going long if price broke above neckline strongly.
Analysis From - Trade Revenue Pro
Disclaimer: Trade Revenue Pro’s view on the Forex Charts is not advice or a recommendation to trade or invest, it is only for educational purposes. Don’t Blindly Buy or Sell any Asset, Do your own analysis and be Aware of the Risk.