EUR / JPY - Trend line broken - SHORT

OANDA:EURJPY   Euro / Japanese Yen
I've been in this trade @129.82 26th July 13:51 and now the rising trend line has been broken post-Euro inflation rate numbers and a rise in Japanese CPI , it's time to share it.

Comment: If I redraw this as follows, the trend line is not broken, so be very aware of this
Comment: Still little progress on this pair, waiting on the trend line to break, notice the weekly pinbar forming

Comment: We have broken the trend line and are now retesting the support at 129.4, may not get there this week, slow to react.

Comment: Beautiful, so many great trades this month

Comment: Beautiful move down past the first trend line towards the next area of support. The weekly view will be important this week if further Euro weakness is present.

A potential target of 126.135 is credible breaking that will send this pair much much lower towards 124 - 122

Comment: This was the main reason I closed Eur / Usd, I'd already hit my profit area and this pair looks to have much more space to fall. Breaking 128.5 would be a lovely move to the downside

Trade closed: target reached: Time to target: 5 weeks
Profit: 125 pips
2% risk - 1:2.5 return (5%)
i am in
There is also the vertical break on the daily, which may suggest bullish-ness on the higher timeframes. Let's see how it plays out. This is a key zone I expect ej to rebound a little... Ultimately, a major deciding zone if it wants to continue to tumble or rebound.
+2 Reply
@nfarah86, I didn't see what you saw... thankfully
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