Bearish Engulfing on EUR/JPY

Bearish Engulfing on EUR/JPY

The EUR/JPY currency pair has been declining after a continuous consolidation. The euro is still under pressure amid weak economic releases on business activity. The current technical pattern signals a further drop in the EUR/JPY quotes. A classic pattern of Price Action, Bearish Engulfing, has been formed in the trading instrument (H1 timeframe), which indicates the bearish sentiment. At the moment, the EUR/JPY currency pair is testing the local support of 125.800. We recommend paying attention to this situation.

If the price fixes below 125.800, you should consider selling EUR/JPY. The immediate goal for profit taking is the "mirror" support of 125.450. The movement is tending to the round level of 125.000. When tracking positions, we recommend using a trailing stop.

by JustForex, 2019.04.18

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Buka Akaun

Dapatkan Analisis Percuma

* ruang yang diperlukan
Artikel Terakhir
Semua Artikel
Indeks Harga Perbelanjaan Penggunaan Peribadi (Personal Consumption Expenditures). Apakah yang perlu diketahui oleh pedagang?
Sekali sebulan, Analisis Ekonomi Biro AS mengeluarkan data mengenai Indeks Perbelanjaan Penggunaan Peribadi (Personal Consumption Expenditures - PCE). Ini merupakan salah satu indikator inflasi yang paling penting kepada Rizab Persekutuan AS. Beberapa pegawai Fed memberi banyak perhatian kepada indeks ini berbanding Indeks Harga Pengguna (Consumer Price Index - CPI).
Baca lebih lanjut