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Euro / Japanese Yen
Short

EURJPY Short

By danieldow
Updated
Bearish railroad/engulfing candle formation at H4 resistance zone. There have been many recent tests of this zone where the price has fallen however this pair is in a strong uptrend on the daily chart so this is a counter-trend trade.
Trade closed: stop reached
Price came very close to take profit then moved strongly upward and hit stop loss. This was mostly expected as this pair has been in a strong uptrend and this was a breakout of a bullish flag pattern. There were higher lows leading to the breakout.
Candlestick AnalysisSupport and Resistance
danieldow

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