FeroxWealth
Short

EURJPY Potential Short Signal

FX:EURJPY   Euro / Japanese Yen
Despite the choppiness and volatile swings, EURJPY             has clearly been in a downtrend consistently making lower lows and lower highs as made clear by the image below:

Knowing that the overall market direction is to the downside we are only interested in taking a short position on this pair. We are awaiting a break below and close below the short-term blue uptrend line on the hourly chart in order to execute a short position on this pair. However we will also need so see confluence from our price action algorithm predicting continued movement to the downside with a chance performance prediction rate of 85% or higher.

Currently our algorithm is predicting continued movement to the upside with a chance performance prediction rate of 81% as shown in the image below:
http://i.imgur.com/DU28z0e.png
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