Bearish signals on the Euro has presented a potential downward movement on the EURJPY. There is a high test that formed today running through the .618 Fibonacci retracement and the monthly support/resistance level (area) of 140.00. Moreover, the reward risk ratio in this potential entry is a nice 2:1.
Not sure I could take a short position here. It looks like a two month uptrend with a higher high and a higher low in place, it could even be described as a long term inverse head and shoulders playing out over the whole of 2015. A single candle and a fib line is somewhat limited evidence to move on.