EURJPY Flag in the Flag

2019年11月24日

Hi guys, here is my analysis for the week on EURJPY.

Thanks to the SMA(200) we can clearly see that EURJPY is in a strong bearish trend.

At the moment we can see a retracement that formed a bearish flag pattern.
Inside this flag we can see a bullish flag pattern formed in the bullish' trend retracement.

There are 3 possible scenarios:

• Sell at the bearish flag break (TP1: at the begin of the bearish flag begin at 115.831. TP2: use trailing stop);
  
• Buy at the bullish flag break. As confirmation wait that the break happen close as possible to the bearish flag trendline (TP: resistance at the begin of the bullish flag at 121.276);
  
• Sell at the resistance at the begin of the bullish flag at 121.276 (TP1: at the begin of the bearish flag begin at 115.831. TP2: use trailing stop).
  

For any question or suggestion, comment below.
Thanks for reading.