Greetings Forexia Crew: lets break down the Forexia EURJPY Live Projection, on Friday the pair had to do one more bullish movement up. You can see from the charts that EURJPY charts the pair has overall downtrend movement. I believe that the EURJPY has made a fake trend up, during previous Thursday and Friday. Morover, the pairs has been testing the zones multiple times. More on the Forexia EURJPY Live Projection below:
On the setup we have various confirmation to consider it as valid:
Technical Analysis:
- Pair has overall downtrend
- EURJPY has formed the zone where traders go long (been tested more than 3 times, makes the zone valid)
- Previous Fake Trend up movement (has been tested 3 times which makes it valid)
Psychological Point of view
Traders have not traded during Saturday and Sunday, and they think short and analyse less and jump into trades early
Entry requirements:
The pair has to do one more induction to the upside. Moreover, there has to be DMA cross and retest to have the tightest entries with zero or small draw-dawn.
More on psychology: Here 🙂
Inside the Forexia Academy you can more of this projections and DMA, other trap analysis from Forexia Mentors: Here 🙂
Price broke the zone as we projected, apparently, there was no enough buyers in the market to the next zone/
