A High Probability Short Trade set up on the EUR/JPY...

Well they say history repeats itself in the Markets. Here we have the highs of October 1996 reaching the 150.000 level, 18 years later during November 2014 we are back at the 150 level. A sharp decline on the Weekly shows that Today we are trading around the 125.660 level. A pullback to the Weekly Trendline Resistance between 128.000 and 130.000 would be where we would enter a Short position riding it down to 120.000 The Lows of July 1997 where we can expect to find good Support.