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EUR/JPY Bearish Rejection Below 125.15-125.45

Nenad Kerkez

Hi traders,

The EUR/JPY could reject from the POC zone. We see a strong bearish confluence with D H3 camarilla pivot and ATR projection high.

The JPY strength could further reflect especially if the EUR gets weaker. In this market we see a bearish move and retracement that should be contained within the POC zone. Targets for the move are 124.43 and if the EUR gets weaker (or JPY stronger) 124.01 and 123.68.  Ideally for the price to remain bearish, a close above 125.72 should not happen, else we might see a neutral to bullish market.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire