JoeNeilCarey
Short

EUR/JPY short target in sight - close of 4H candle critical

FX:EURJPY   Euro Fx/Japanese Yen
UPDATE FROM YESTERDAYS TRADE:

After the sell off this morning EUR/JPY             is re testing its 4h trend line which came into play yesterday, fresh lows of 133.90 but failure to close at these levels show potential further downside to my target of 133.50.

RSI is still holding its downwards trend, plus Ichimoku shows that we've had a cloud crossover as well as a TK             crossover - both of which are pointing to further downside. Saying that I am skeptical about this signal as the Chickou-span still stays within price as well as being within the previous cloud (giving me the impression that price could potentially hold in this area), a clear close below the 4h trend line and a continuation of RSI/MACD showing further downside will encourage me that my target is still within range.

A break into oversold territory will add further momentum to the downwards move, the close of this latest 4h candle will be critical again.

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out