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Euro / Japanese Yen
Short

EURJPY : I'm on board for a bearish breakout

By ForexGoldenBoy
Updated

My presumed scenario is that this bullish resistance acts as a polarity zone. That is, it marks the market's transition from an uptrend to a downtrend. The bearish breakout occurred on volumes worthy of this hypothesis. If confirmed, prices could plunge lower. 162.67 seems a reasonable technical target to start with.
Trade closed: target reached
"Terminus" :

The trip to the TP went off without a hitch, and the choice of a nearby target meant that the scenario was validated in record time.

See you soon for new adventures...
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ForexGoldenBoy

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