2 Mar 2017

POLARITY CHANGE ON EUR/JPY SUGGESTS REVERSAL


EUR/JPY H4

The rate is currently testing some interesting former support levels which should  now become the new resistance -

  • Already confirmed polarity change area (the yellow rectangle) 120.20 - 120.55
  • 4-month long broken rising trendline support
  • the lower parallel of the broken falling channel (black dotted line)
I am looking for a strong rejection lower to enter new short positions and only a break above 121.10 would invalidate my immediate bearish bias on the pair.









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