olly_price
Short

EURJPY descending triangle

FX_IDC:EURJPY   EURO / YEN
8 months ago
Very well-formed descending triangle , which is typically a bearish signal.

6 hit points, with the hit points converging towards the apex of the triangle.

Depending on how you trade this, you could look to go long now and ride a potential furthering of the triangle, closing out at the resistance and then shorting a break to the downside. Alternatively, you could just wait until a break to the downside (if it happens at all) to short. I would short at a close below the horizontal black line.

Fundamentals
Given the recent BOJ decision to leave monetary stimulus unchanged, the YEN could continue to see the bullish run it has had over the past months. But watch out for any risks in upcoming BOJ meetings.
8 months ago
Comment: Heading back up...
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