Rejection
EURJPY possible short setupEURJPY is currently sitting around a strong resistance in green so we will be looking for objective sell setups.
EURJPY formed an objective channel in blue and double top pattern in purple. we also have a divergence on MACD adding more confluence to our setup.
Our trigger would be a momentum candle close below the double top neckline in gray.
meanwhile, until our sell is activated, EURJPY would be overall bullish and can still move up.
USDJPY - Nearing the reversal zoneExpecting further downside on USDJPY - anticipating a reversal from the zone highlighted.
We may see a push up to meet the descending trendline/a rejection from the 200 EMA first - I will be monitoring this closely over the NY session.
A nice 200 pip drop to the July low could be achieved if this plays out to my expectations!