EUR JPY hugging the bear secretly...

FX:EURJPY   Euro / Japanese Yen
47 2 1
Hi All!

This pair is currently still in a very long consolidating phase and you can see the support and resistance @ 114 and 116+ respectively. The overall view is still downward sloping and I am still expecting this pair to go down to at least near 112. In fact from overall trend alone, there is also a high possibility to even fall beyond 112 with a new wave down...

Risk taker - Short anytime now
Risk adverse - Short below 113.89


* A chart to me should be simple and easy to read. There is no need to plot in too much lines and indicators really...
Trade active: So far so good, going in the 112 direction...
Trade active: Spiked from ECB news but still maintaining bearish on this pair.

How can this pair go down if you are expecting a weaker yen going forward? Are you assuming the Euro will depreciate stronger than the yen? Thanks for clarifying..
LDD lu1977hk
@lu1977hk, for this pair, Yes you can see the pair broke above my long term downward sloping green line but somehow now,it is hanging near resistance level @ 116. There is a chance this will go sideway still unless it break and closes above 106.
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