EUR/JPY Trading Analysis (22/01/2025)
The trend is down. The currency pair is trading between 365 and 135 EMAs on the H1. The bullish wave structure is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.
Trade idea:
- Sell when the formation of the descending wave structure begins, when the wave A breaches the sloping channel of the ascending truncated structure.
- Stop-loss at 162.400.
- Price targets at 160.890 and 160.000.
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