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EURJPY FAVOURED SHORT!

FX:EURJPY   Euro Fx/Japanese Yen
FAVOURED SHORT BUT WE COULD SEE MORE UPSIDE FIRST TO WEEKLY FIB RETRACEMENT 0.5 OR DAILY FIB RETRACEMENT O.5 OR 0.61 BEFORE SEEING THAT MOVE TO THE DOWNSIDE.

SHORT:
* Ranging at the moment.
*Price bounced of weekly fib retracement 0.61 as that level was also in confluence with daily mid range(highlighted IN blue)
*downside target in confluence with Mid range/ support levels drawn/ monthly upwards trend line & Daily Fib extension level D1.
*Downside levels could be touch of 200MA before heading back upside.

What do you think?
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