EUR/JPY Technical Short Position

FX:EURJPY   Euro / Japanese Yen
Learn to trade with consistent success - This short position is based primarily on a technical set up although the long term fundamentals do fit the picture aswell. The Euro             is still in QE and likely to be for the duration through to september 2016. The Bank of Japan are increasingly optomistic regards there monetary policy and we could soon start to see tapering in that department. The technicals depict a head and shoulders pattern that has just rejected the resistance level of the second shoulder woth a pinbar candle on the 4 hour chart. I will wait for this to break the RI             level today or open a lower red candle on the 4 hour chart.
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