EUR/JPY - Eyes 5-WMA support at 114.75

FX:EURJPY   Euro / Japanese Yen
Euro's failure to hold above 117.36 (100% Fibo extension) for two weeks coupled with last week's gravestone Doji candle and a rejection t 10-WMA today suggests the currency is likely to test 5-WMA level of 114.75 before resuming another leg higher.

The bearish view is at risk of a daily closing above 117.36, still caution is advised as long as prices do not see a convincing break above last week's high of 118.46
EURJPY is at a key watch level for my JPY pairs already, so could be the leader of the decline
TipTVFinance SignalTradersUK
IMO - entry in short at current level is bit late. I would want to see USD/JPY take out 104.19 on day end closing basis
SignalTradersUK TipTVFinance
agreed, i was meaning more that EJ is leading the decline and that UJ may have more downside to come today
I am watching the JPY crosses quite closely as I see a level approaching, If we close beyond it then I believe we test the lows and a bit more
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