Uce

EURJPY Sell Setup Bearish Cypher.

Short
FX:EURJPY   Euro / Japanese Yen
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6
EURJPY in a bearish trendline progression. Price already tests resistance line twice. Using Fib retracements, price might possibly get to the 133.56 and see a potential downtrend retracement. For Binary option traders, i would suggest a 30 - 45 mins put option after seeing a good confirmation of a closing candlestick below the 133.56 priceline. Forex traders may short sell and take profit at the 132.9 priceline (possible upward retracement may occur). This is only a suggestion guys. Pls feel free to add comments or opinions of any sort. Happy Trading.

Comments

C leg have not touched 127 extension
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Uce Adil-khan
Yes. The formation isn't complete yet.
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Uce Adil-khan
The idea is that if the c leg completes it will retrace downwards and possible have another retracement at the 132.9.
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