EURJPY – we have an Inside bar pattern. The maximum of the “mother candle is on levels seen last time in … 2008, 16 years ago…
This might be a good opportunity to short. But first is that the price will break down out from the pattern and second is that MACD will turn bearish (red).
The possible target would be the trend line and SL over the pattern. To make MACD turn bearish price must fall below 163.60. I f it happens than we will have a bearish divergence on D1 what will confirm bearish scenario.
A similar situation already happened on GBPJPY , it seems very probable to see this soon on EURJPY.
LIVE EDUCATION SESSIONS
WEEK (25-29 March 2024 ) I am pleased to invite you to several online sessions. Below is the schedule of meetings:
Links: BASIC (beginners room) ADVANCED ROOM
The above analysis is based on the PA+MACD strategy, a detailed description of which you can read HERE . I will talk more about the PA+MACD strategy applied to these currency pairs during the live trading sessions, which you can attend from Monday to Friday.
More current analysis on the group : Trade with Dargo
