24.06.2020
The uptrend changed to a downtrend and the 135 moving average crossed the 365 EMA from top to bottom. Currently, the currency pair is trading in the range of moving averages. A break of 120.24 will result in the formation of a descending wave pattern within the wave (C) of the assumed descending pattern of the H12 level.
Trading recommendations:
Sell strictly below 120.24, while a descending wave pattern is forming.
Stop Loss: 121.08.
Target levels: 119.33; 118.10.
If the pair returns to the resistance level of 121.08, cancel the trading plan (it’s necessary to rebuild it using a new design).
The EURJPY rate online: monitor the movement of the pair in real time.
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