EURJPY reverted its downside break of the 20 SMA last week with a retest of the broken intermediary bullish trendline, but failed to move back up the trendline. The current momentum looks like a further down move is to be expected.
Comment:
Are we retesting the last, small trendline? If we break lower, we can go short.
Comment:
Timing was off, idea still valid and looking for a nice entry. Technicals and fundamentals are against JPY.
Price moved higher to upper channel line and is not at crossing of trendline and upper channel line. Looks like a bad next week for JPY if the trendline holds!
Price moved higher to upper channel line and is not at crossing of trendline and upper channel line. Looks like a bad next week for JPY if the trendline holds!
Trade active:
Closed back again inside the channel. Short entry.