EURJPY Sell Idea

8 Jan 2021

EURJPY broke into bullish territory on the Daily chart and hit a major resistance level, and we have met seller pressure at the resistance level that has been tested and rejected as shown on the 2 hour chart. This is a good area for a long term sell with the histogram of the MACD crossing over, and a pull back to a resistance zone with confirmation of bearish candles forming to confirm the idea and sell. Fib retracement in the uptrend shows price historically pulls back to the 38.2 in which we can then check for signs of the uptrend to continue, or structure to break and retest for a sell to the 50-61.8