Euro / Japanese YenShort
EURJPY - Break to Daily low?
EURJPY downtrending on higher TF with yesterday's daily candle (spinning top) indicating slowing momentum from last Thursday's bull run (up from a 3 year daily low) and a potential reversal. Further indication of this is the observed rejection of the D1/H4 downtrending TL.
On H1 we observe price being supported at the 116 psychological level. I am anticipating a break and potential retest of this level to go short.
Targeting the daily low for a potential 150 pip move.
On H1 we observe price being supported at the 116 psychological level. I am anticipating a break and potential retest of this level to go short.
Targeting the daily low for a potential 150 pip move.
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