EURJPY tend to move further downside,support levels are broken

⚡️ The price felled below the 50% Fibonacci and 123.00 key psychological level

⚡️ And the previous price action level was broken and felled below the support level

⚡️ Risk sentiment is remain negative and in Asian session it has make a long bearish candle in 1hr timeframe

⚡️ The price is well below the 03 EMA's and the Ichimoku cloud is pointing towards south

⚡️ RSI is felled below the 50 level reaching towards 30 we can expect minor rebound from this level but EURPY is trading in a downtrend

⚡️ At current level we can see a clear bearish structure.

⚡️ At 11.30 GMT ECB president Miss.Lagarde going to deliver a speech we are expecting that ECB will make a concern about recent appreciation of EURO. And the worrying about recent surge in corona virus

⚡️ The next key resistance level would be 121.00 and a potential level for trend reversal

⚡️ In Elliot wave principal The second wave i already completed and The 3rd wave is underway

Pivot points-H4
R3 123.25
R2 123.07
R1 122.75
PP 122.57
S1 122.25
S2 122.07
S3 121.75

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