Short

EUR/JPY Re-entry

I am re-entering this EUR/JPY short after my previous short hit take profit. After my previous take-profit, the pair retracement but could not break the previous high. In the 15 minute chart, we can see that the previous hour had 3 bullish bars with the 3rd bat being really small compared to the previous 2 bars and the 4th 15M bar was bearish. It seemed like people are closing in on their profits from that reversal and the bears are coming back in to short this pair. Beautifil entry with a 2.61 Risk to reward ratio.
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