EURJPY: Bearish Outlook Explained 🇪🇺🇯🇵

Short

Euro / Yen Japonais (OANDA:EURJPY)

OANDA:EURJPY Euro / Yen Japonais

headandshoulders supportandresistance mtfa eurjpy euro jpy japaneseyen yen priceaction forecast signals containsimage

After a test of a significant daily structure resistance,
EURJPY retraced and formed a head and shoulders pattern on a 4H time frame.

Before the market closed, the price violated its neckline and closed below that.
It is an important sign of strength of the sellers.

The pair may keep falling now to 156.7 support level.

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