APosner
Short

$EURJPY has broken its uptrend and is heading lower

FX:EURJPY   Euro / Japanese Yen
76 2 1
After a significant rally its channel has broken and prices are heading lower. Resistance below 143 will hold.
Just a 10 period RSI. By drawing a line at the 50 mark you can see how the RSI stayed above 50 throughout the rally with a few "noisy" exceptions. The recent plunge brought price below the last significant swing at 142.80 and I see this small bounce coming to an end shortly. I see the selloff moving to the area of 139.50.
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What are the RSI settings you use?Thx
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