EURJPY Potential Short Signal

FX:EURJPY   Euro Fx/Japanese Yen
EURJPY             has been extremely bearish since mid 2015, consistently making lower highs and lower lows as shown in the image below:

With that being said we do not want to go against this strong downtrend because there is a reason why it continues to move lower, there is A LOT of money pushing it lower. Therefore we are only looking to trade with this momentum and look for short opportunities. If we see a break below and close below of the bottom most supporting blue up trend line with confluence from our forecasting algorithm predicting a downward move with a prediction chance of 85% or more then we will be set up with a high probably entry for a short position.

Currently our algorithm is predicting a move to the upside bouncing off this up trend support with a prediction chance of 94%, however this will update every hour on the hour. We will continue to monitor price action and our algorithm to see if we get out signal to execute this short position. See the image below to see our most recent algorithm forecast for this pair:

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Order cancelled: While we did not quite take this potential signal, hence why it was never activated, there was a good scalping opportunity on the selling momentum resulting from the break of the supporting trend lines which we hope some people took advantage of.
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