Hi traders:
Similar like other JPY pairs, I am also seeing EURJPY can have a short sell potential.
We saw price has been within the channel like structure pushing the price up. An ascending channel was formed and broke the previous tops correctively.
Then, LTF formed a H and S pattern, and a strong LTF bearish move down. This could be the first sign of the bearish reversal on the lower time frame.
Wait for continuation correction after a strong breakout would be very ideal to look for the short sell down to previous lows.
Thank you
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