Hello Traders, welcome to the Daily Forex technical analysis
. Today is August 29th, 2019 and we will be taking a look at the Euro
against the Japanese Yen
. Looking at the 1 hour time we are now looking for price action to make another lower high as it's losing a lot of momentum at this previous area of resistance at the 117.78 area. If price action doesn't flip bullish
here by regaining support above the 118.0 region we will be looking for an entry short with profitable conditions. Entry for a Short position near the 117.784 area, with a Stop Loss near the area of 118.007, and a target profit level area of 117.326 to possibly ensure a profitable trade with a 2.01 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!