eurpy watching for a sell signal

Watching EURJPY closely this session as it’s moved into a nice position where bearish price action continuation signals are to be expected.

We can anticipate these signals by looking at the market structure before we worry about candlestick patterns.

Look to the left and you can see a clearly defined previous range support is now being re-tested as new resistance.

If EURJPY rejects higher prices off this level, it will communicate the level is now holding as new resistance and give a nice swing trade, that’s in line with the bearish momentum.

Be on the look out of any rejection candles, or big bearish outside candles to complete a bearish price action setup here.

6 Comments

  1. Hi there,
    Ya I watching it, already nailed 15pips, I want to learn price action analysis
    How to join, please mail me thank you

  2. Hey Dale, I’ve been waiting for the pullback and it seems it can give a good opportunity to sell. Nice to see you’re seeing the same thing as me. Can I ask what do you think about NZDJPY? It printed a nice bullish signal on a really important weekly support…

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