EUR/JPY: 1-hour
Divergence alert! EUR/JPY has just formed lower highs while stochastic created higher highs, showing a bearish divergence on its 1-hour forex chart. This could mean that euro bears might be able to force the pair to return some of its recent gains and possibly head south to the rising channel support at the 134.00 minor psychological level. Before that, EUR/JPY might still be able to test the top of the channel near the 137.00 major psychological handle. Just make sure this setup meets the 9 Rules for Trading Divergences if you’re looking to short.
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