The minor recovery since early March is fading away against the 38.2% retracement at 132.40. Expect a resumption of the primary down trend over the next hours and days. Trigger for such a move is found at 131.40. Clearing this level generates a renewed sell signal targeting 129.95 (minor) and the main price projection at 129.05.
Maintain initial stops above 132.40.
Intraday trend: negative
Outlook: counter trend fades, down trend resumes
Strategy: short-entry < 131.40
Support: 131.40 / 129.95 / 129.05*
Resistance: 132.40 / 133.40
Outlook cancelled/neutralized above 132.40
EURJPY
Maintain initial stops above 132.40.
Intraday trend: negative
Outlook: counter trend fades, down trend resumes
Strategy: short-entry < 131.40
Support: 131.40 / 129.95 / 129.05*
Resistance: 132.40 / 133.40
Outlook cancelled/neutralized above 132.40
EURJPY
Comment:
Stoploss to break-even @ 131.40
Comment:
Possible Double Bottom, tighten stops to 130.90.
Trade closed: stop reached:
Trailing stop hit, exit-short with minor profit