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EUR/JPY Regular Bearish Divergence on Intraday Timeframe
The EUR/JPY is showing a regular bearish divergence on intraday timeframe. Traders should watch for any H1 momentum or 1h close below the trend line that might be an early cue that the price might drop towards 120.67 and 120.16. 120.16 is a nice confluence of L4, EMA89 and Bullish Order Block where bounce might be expected. However, if we see a 4h close above H3 - 121.70, the price should continue upside towards 122.20 where H4 is located.
Thursday, 01 Dec, 2016 / 2:58
Source : http://www.admiralmarkets.com/analytics/technical-analysis/
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