EURJPY has been in a recent downtrend.
I personally entered short on the break of the hourly counter trendline, which we are currently retesting.
As long as we don't make a break above the blue dotted line which is recent resistance (as price reacted nicely to this area recently), we can see this short down to 117.50's.
The blue dotted line also lines up nicely with the 38% retracement level on the recent down move.
I personally entered short on the break of the hourly counter trendline, which we are currently retesting.
As long as we don't make a break above the blue dotted line which is recent resistance (as price reacted nicely to this area recently), we can see this short down to 117.50's.
The blue dotted line also lines up nicely with the 38% retracement level on the recent down move.
Note
Got stopped out by about 2pips! Very annoying!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.