EUR/JPY Quick 1.5:1 Short
After seeing last week break out into new 2019 highs, price has established itself in a short term bullish trend. Currently price is in a bearish pullback while price builds value before heading higher. After yesterday's bearish engulfing daily candle, closing back below the identified zone, I had a bearish bias for today's move. On the 4-hour chart we are seeing a tweezer top reversal candle forming off the 126.90 key level. I am expecting price to fall from this level towards a cluster of support. Around 126.30 sits previous highs that were broken, an ascending trendline, as well as the 4-hour 50ema. This is a major level that could cause price to rebound so we don't want to try and force price through.
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