EUR/JPY Descending Trend Lines Suggest Further Bearish Pressure

The EUR/JPY has formed a POC zone straight at D H3/DH4 but below the camarilla W H3 Pivot. Trend lines are suggesting a confluence with technical tools (EMAs, Pivots, Candlesticks) for further bearish movement if the price stays below 129.58.

Rejections are possible from 129.20-37 towards 128.48 and 128.30.

• W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
• W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
• W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
• D H4 – Monthly Camarilla Pivot (Very Strong Daily Resistance)
• D L3 – Monthly Camarilla Pivot (Daily Support)
• D L4 – Monthly H4 Camarilla (Very Strong Daily Support)
• POC – Point Of Confluence (The zone where we expect the price to react – aka the entry zone)

Best wishes,

Nenad

Follow EliteCurrenSea on Facebook – @tarantulafx on Twitter – for the latest market updates.