EURJPY Sell Setup
Updated
Sell EURJPY
Technical Reasons:
1- strong resistance at 200 MA on the weekly time frame
2- failed to break the range that contains pair's highs
3- rejecting from 61.8% on the 4h time frame
Fundamental Reasons:
1- ECB government council may show their concerns towards EUR recent appreciation
2- risk aversion is supporting JPY
3- if the ECB disappoint markets on 7 Sep and did not announce QE tapering plans The EUR may go down
------------
SL should be placed above 131.50
TP1 127.50 - TP2 126.00
Keep yourself updated with the data and good luck
Technical Reasons:
1- strong resistance at 200 MA on the weekly time frame
2- failed to break the range that contains pair's highs
3- rejecting from 61.8% on the 4h time frame
Fundamental Reasons:
1- ECB government council may show their concerns towards EUR recent appreciation
2- risk aversion is supporting JPY
3- if the ECB disappoint markets on 7 Sep and did not announce QE tapering plans The EUR may go down
------------
SL should be placed above 131.50
TP1 127.50 - TP2 126.00
Keep yourself updated with the data and good luck
Trade active
Note
move you SL to entry... it reversed before TP1 by 5 pips
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