theselfishtrader

EURJPY - Trend continuation opportunity?

Short
FX:EURJPY   Euro / Japanese Yen
After breaking to new lows, price has retraced to test previous support
Another test of the recent swing high around 119.800 alongside the potential bearish divergence could offer a short opportunity and chance to join the trend.
Likely targets are the recent lows at 118.600, although if new lows are set 116.00 could be the next turning point.
Note of caution: Recent bullish engulfing candle is a potential cause for concern