Making sense out of this weeks trading is very hard, only EURJPY
chart with PA this low before, is 1 M chart. From attached chart this month (June- 2016) has formed a very long red bearish candlestick
. Note this very long red candlestick
has NO upper shadow or wick & all pressure is market to go lower still. PA & ema
50 will be doing a death cross with ema
200 very soon. RSI
on bottom is under 50. PA this month has broken below Ichimoku cloud
Big Question is: How low will it go??
The low noted on monthly chart is 94.114, which almost 4 years ago. In my opinion-- nothing is stopping EURJPY
pair from continuing to at least the low of 108.00 next week. That would be next SUPPORT area
on this chart. Be careful & trade with your brain and eyes 1st-> what you see with PRICE ACTION will keep you trading with TREND.