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EUR/JPY Bearish Impulse is Stronger Due to Gravestone Doji

By:
Nenad Kerkez
Updated: Nov 11, 2021, 14:33 UTC

The price is bearish. The markets are going down as technical and fundamentals are aligned.

EUR/JPY Bearish Impulse is Stronger Due to Gravestone Doji

In this article:

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EUR/JPY Technical Analysis

  • Bearish momentum
  • We can see the stronger bearish pressure
  • Yen is getting stronger
  • The drop below M L3 signals continuation

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  1. Low point
  2. Order block
  3. Swing low
  4. Swing high
  5. Gravestone Doji

The price is bearish. Yen is getting stronger. Don’t forget the basics.

Yen strength

1.100% risk off sentiment

2.Gold up

3.Commodities prices down

4.Equities down

5.Yen strengthens as a result

At this point the market has established the Gravestone Doji variant 2. Expectation is that the EUR/JPY will reject lower below M L3. The entry is 130.60. Targets are 130.13 and 129.08. The daily bearish close below the M L3 will give additional momentum to bears.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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