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UnknownUnicorn180388
Jul 10, 2015 10:57 AM

EUR/JPY DAILY OUTLOOK 

Euro Fx/Japanese YenFXCM

Description

Here on the Daily chart of EUR/JPY we have a potential short position setup into next week.

The green box indicates the previous structure resistance.
With this being a strong resistance area we feel this should act and hold as strong structure to potentially get short on this pair, taking a number of Fibonacci's to indicate potential targets and support levels.

The candle formations are more visible on the 4h and 1h charts, however the previous structure is less viable hence the daily chart.

Good luck.
Comments
P_Parker
Hm, that looks good, your PRZ was strongly rejected on Monday (D1 Candle).....
UnknownUnicorn180388
There seems to be a little bit of indecision however we could easily get another test of the PRZ.
ElPatron.Y
UnknownUnicorn180388
Very nice chart!
Best of luck.
Novan_FR
Very nice chart!
Best of luck.
UnknownUnicorn180388
Thanks very much.
Novan_FR
very nice . . . see n wait price action :)
UnknownUnicorn180388
We will have to wait and see my friend
UnknownUnicorn180388
Approaching target 1 at 133.87 at which point, half of my position will be taken off.
marcus123
nice bit of initial analysis!
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