EURJPY Analysis, April 28, 2025
EURJPY timeframe M15, it can be seen that the current trend is in a bearish condition. After experiencing a previous increase, the price began to show signs of weakening by forming a structure of lower highs and lower lows. It can be seen that the price has penetrated the Moving Average with a fairly strong bearish momentum, then pulled back to the new supply area (green zone) marked on the chart. This pullback is a natural market movement to retest the area that has just been penetrated before continuing its main movement. This provides a potential opportunity to make a sell entry. Currently, a very clear signal has not formed, but in a situation like this, we need to anticipate the formation of a bearish candlestick pattern such as a bearish engulfing, bearish pin bar, or shooting star in the supply area as additional confirmation for entry.
The best strategy for this setup is to sell on rally. Wait for the price to stay in or near the green supply area (around 162.70 - 162.85) and look for confirmation in the form of a bearish candlestick before entering. Stop Loss can be placed a few pips above the supply area or above the resistance that has formed, around 162.88. For Take Profit, the initial target can be directed to the next support at 162.30
