The #EURJPY price has formed a downward trend on the 4hr time frame which could offer short opportunities.

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EURJPY Short Opportunities

The price of EURJPY has fallen recently largely due to the recent shift in the risk sentiment in the market. As stocks have fallen the JPY has gained strength seeing many JPY pairs form trading opportunities. 

The price has recently broken through last week’s low and looks to be heading for the major swing lows around 138.00. If the price is going to head to this level we should see the current 4hr downward trend continue to form lower lows and lower highs. If the price breaks through the lows we can look for a retest at resistance for a short opportunity. Alternatively we could look for a move back to the supply zone higher up where the selling pressure originated from. If sellers reappear here we can look for further downside. 

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About The Author

Jonathan Kibbler

Jon Kibbler, our Senior Market Analyst, boasts over a decade of trading experience. He specializes in dissecting the intricacies of financial markets and sharing his expertise with precision. Jon’s insights have been featured at renowned events and platforms like Coindex, Forex Analytix, and Forex.com.

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