EURJPY is trading in channel pattern for a long time, shown in the chart. Within the Channel pattern, it has formed the symmetrical pattern at the resistance line of the channel pattern. The symmetrical pattern is considered for indecisiveness in price movement. According to the chart pattern analysis, we might see the downside. Trade can be initiated only after the breakout from the symmetrical triangle pattern on either direction with proper risk management and stop loss.

Thank You.

Vivek_Samale
Vivek_Samale

I have half a decade of experience as a trader and enthusiastically learning & developing new strategies in algorithm trading & also analyzing the companies with New ESG method.