EUR/JPY Forex Analysis and Forex Signal

EUR/JPY broke previous support over night on the D1 timeframe.

Technical Analysis

Technicals from our free live trading charts show that indicators are showing a short over all on the D1 timeframe.

What others are predicting

We see 2 different traders’ analysis on the free live trading charts, that show:

After two inside days, price finally managed to break the recent lows, and close lower than consolidation.

The EURJPY is looking very bearish indeed.

Aggressive traders should look to short right about now. More conservative traders might look for some sort of consolidation on a lower timeframe, or potentially, to maximise Reward to Risk (R), set a sell a little higher, at say 122.30
time to short

Here are my thoughts!

It’s time for a short entry!

To be on the safer side, you could wait until EOD to make sure we are not being faked out with a pin bar. It is also Friday, and many times we don’t see a lot of movement occur. Either way…be safe out there and use proper risk management!

Our target range for the short position is: 120.986793 – 120.197124

Cheers to another successful week!

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