TradeYodha
Short

Possible EURJPY Short Trend Follow (Fib, ABCD, SMA, RSI)

FX:EURJPY   Euro / Japanese Yen
@TradeYodha
TradeYodha.com
(Just my ideas, do you own analysis)

Possible EURJPY             Trend Following Short Opportunity

1. Underlying Trend is Short. It has reached a particular level where it may try to retest previous highs (there is a counter trend opportunity as well)
2. 78.6 fib at the previous high
3. 10 SMA and 50 SMA are lagging behind and around the same area as previous high. Price may try to reach back to them.
4. If the price gets overbought at this area, we may have a short opportunity. Look for double top , rsi divergence oir 2618 opportunity
still consolidating around entry area
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