Keyser Soze

EURJPY Short Accumulation

FX:EURJPY   Euro / Japanese Yen
159 1 0
EJ             is consolidating below the supply area of 131.5 - 131.7 and I'm keeping bearish bias for a retest of the low 129s. There's unfinished business at 129.2, so that's T1, clustered support below every 30ish pips if we break below T1. Shorts invalidate on close above initial highs at 132.4s but any break of the last resistance arm (angle from the top) at 1x8 (0.125) would greatly increase the probability of re-testing the highs and/or failure.
Note: Chart should've been called EURJPY             Distribution for obvious reasons but that's the one thing I cannot change without re-posting.
Retracement extended all the way up to 1/8th of the initial impulse down before continuing on course (it was actually a full bullish run up, just at a lower freq). T1 moves slightly lower at 129.03 at 123.6% of the current bear impulse from 132.135 since its 100% at 129.82 does not cover the very first target at 129.19.
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