Trading Analysis of EUR/JPY
Daily Trading Analysis 07.02.2024
The EUR/JPY drops from around weekly highs reached on Monday at 160.27 and forms a three-candle ‘evening star’ chart pattern, which opens the door for further losses.
Our Analysis:
While the price is above 157.00, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 159.30
Take Profit 1: 161.00
Take Profit 2: 162.00
Alternative scenario:
If the level 157.00 is broken-down, follow the recommendations below:
Time frame: D1
Recommendation: short position
Entry point: 157.00
Take profit 1: 156.00
Take Profit 2: 155.00