128Capital
Short

EUR/JPY Triple Top

FX:EURJPY   Euro Fx/Japanese Yen
268 2 0
We have a triple--nearly quadruple--top on the EUR/JPY             pair and with the ECB doing anything to talk down the euro             this could be a nice short opportunity. The other thing to notice is the last 4 highs/attempts to break the top have been accompanied with lower highs on the RSI , clearly momentum is to the downside.

The first target should be the bottom of this newly forming consolidation zone just above 131. If that is breached the pair could move down to the 200 EMA around 128. A stop should be placed above 136.
pradafx
3 years ago
I think there is a good possibility to continue this bullish run.
Reply
128Capital
3 years ago
I'm stopped out, will look for new opportunities.
Reply
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