Fxprotrader
Short

EURJPY Two Potential Sell Scenarios

FX:EURJPY   Euro Fx/Japanese Yen
341 1 24
At either case scenario we should watch for a sell setup. Price is moving in a rising channel in sideways. MACD big divergence shows weakness of this up move and we might soon have a reversal. If price drops and breaks below the channel we should watch for a sell setup. If it bounces from the lower trendline and make one more move up, we should keep an eye for a sell setup at the upper bond of the channel.
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EURJPY isn't the best pair to short when JPY strengthens (which is coming on the back of a drop in stocks maybe).
I'd rather short USDJPY since risk off sentiment would make EURUSD surge.
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