EURJPY 03/08/19
- Daily
Wednesday closed with a doji. Nothing much changed from my previous forecast for the pair.
On Thursday, price came back within the channel in a major way and closed below 125.000. This could mean price may make its way towards 120.000 in the long run.
- 4H
Like I said before, price has comeback and hit the other side of the channel yesterday. Currently we can see a pullback forming. Depending on your definition of a break and retest, price may have done so where the orange dot is. Personally, I think a retest occurs after price finds a place of rest (level of support/resistance, and must be a bullish to bearish, or bearish to bullish candle transition) after breaking a level, then comeback to test it.
- 1H
On this timeframe you can see my previous definition play out right next to the orange dot. We may see one more pullback closer to Kijun, or a retest of the bottom channel and continuation to the downside.
Wednesday closed with a doji. Nothing much changed from my previous forecast for the pair.
On Thursday, price came back within the channel in a major way and closed below 125.000. This could mean price may make its way towards 120.000 in the long run.
- 4H
Like I said before, price has comeback and hit the other side of the channel yesterday. Currently we can see a pullback forming. Depending on your definition of a break and retest, price may have done so where the orange dot is. Personally, I think a retest occurs after price finds a place of rest (level of support/resistance, and must be a bullish to bearish, or bearish to bullish candle transition) after breaking a level, then comeback to test it.
- 1H
On this timeframe you can see my previous definition play out right next to the orange dot. We may see one more pullback closer to Kijun, or a retest of the bottom channel and continuation to the downside.
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