EURJPY: bears are showing market below 129.49 in the market

GENERAL OVERVIEW:  The pair looks bid and trade closer to 129.49 levels creates the selling side in the market. The Japanese yen remains offer on the higher US yield. The upbeat moods around the US motivate the sellers to keep their hold in the market and keep their pressure in the market. The bears are advances for the third session in the row on Tuesday and l much positive in the field of selling pairs. The pair targeting the level 129.49 in the market. The pair is creating the long side sell trend in the market and creates the selling side in the market. The higher high formed in the market as the sellers are keeping forcing the bears to take the pair towards the strong bearish side in the market.

Technical analysis: From the technical point of view we can say that market leads towards the sell side in the market. The market makes the uptrend in the market.. The long side sell trend formed in the market. on the 4 hourly chart also we can see that bullish side formed in the market after forming trend  breakout level and sit towards the sell side in the market . The strong side EMA and SMA lines supporting the market for the further selling in the market. On the hourly chart market is supporting the 130.57 level. The RSI is also above the 50 level and create the buy side in the market as well as MACD also raise above zero level..

Trade idea: our sellers will sell at level 129.49 target will be 129.00 -128.50 and stop loss will be 131.50

Leave a Reply