EURJPY short opportunity
Updated
have had a clean break of ascending trendline on Daily and 4 hr 0.29% , with the 50EMA crossing over both the 100/200ema's on the breakout on 4hr indicating a change of trend. 50EMA looking to cross the 100 on the daily too.
also a clean break of horizontal support of 131.88, which has had multiple high test rejections shown in the white box indicating a turn into resistance.
looking to short on market open with stops above the high wicks and target of 128 in line with the bottom of the ascending trendline .
However will be looking at whether there is any gap up on open and initial bull movement, so to wait for a break of the 4hr 50ema before entering incase of a bullish move back up through resistance.
also a clean break of horizontal support of 131.88, which has had multiple high test rejections shown in the white box indicating a turn into resistance.
looking to short on market open with stops above the high wicks and target of 128 in line with the bottom of the ascending trendline .
However will be looking at whether there is any gap up on open and initial bull movement, so to wait for a break of the 4hr 50ema before entering incase of a bullish move back up through resistance.
Note
Triple top looking to form on the 4hr too.
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