Possible short trade on EURJPY for week commencing 15/01/2017.
A number of daily spikes and rejections of the monthly resistance at 124.00
Recent daily consolidation range of around 150 pips was broken to the downside last week which meant a breach of weekly support @ 122.00
Daily candles also now below the daily EMAs
Possible weekly Evening Star formation signalling upcoming bearish PA.
First target of 120.00 followed by 119.00
A number of daily spikes and rejections of the monthly resistance at 124.00
Recent daily consolidation range of around 150 pips was broken to the downside last week which meant a breach of weekly support @ 122.00
Daily candles also now below the daily EMAs
Possible weekly Evening Star formation signalling upcoming bearish PA.
First target of 120.00 followed by 119.00