By Admiral Markets
The EUR/JPY is showing a regular bearish divergence on intraday timeframe. Traders should watch for any H1 momentum or H1 close below the trend line that might be an early cue that the price might drop towards 120.67 and 120.16. 120.16 is a nice confluence of L4, EMA89 and Bullish Order Block where bounce might be expected. However if we see a 4h close above H3 – 121.70, the price should continue upside towards 122.20 where H4 is located.
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Article by Admiral Markets
Source: EUR/JPY Regular Bearish Divergence on Intraday Timeframe
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