Here on eurjpy
we have a 38.2% retracement
with a double top
. There was also a fake out of the CTL which would have trapped sellers. we can also see that we have had a touch of the upper trend line
and as you can see previously when we have a touch it is followed by short action. We are now awaiting a break and retest to take a short position. We would like to see our target of -61.8% be met but also locking in profit with our stop loss on the way.