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ITraderAnalysis

Bearish EURJPY on watch

Short
Euro / Japanese Yen (FX:EURJPY)  
ITraderAnalysis Updated   
FX:EURJPY   Euro / Japanese Yen
eurjpyshort Technical Analysis priceaction Trend Lines Support and Resistance Fibonacci
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eurjpyshort technicalanalysis priceaction trendline supportandresistance fibonacci
- Price closed just below the Monthly Res: 127.00 & 50% Fib
- Spinning Top PA setup @ Monthly Res & 50% Fib.
- Current candle very near to descending inner trendline.

Potential Flip Zone. Waiting for signal to short
Comment:
Price fall lower slightly and goes into consolidation.
Daily Timeframe shows Inside Bar Formation, I'll be cautions with this bearish mode. Euro price is on the rally thus EurJpy potentially rally higher to retest the falling Inner Trendline (red)
Comment:
Price is still in the falling mode, being quite a slow and choppy move recent month. I have not been too active recently due to the market slow pace (of course I mean it from my own trading perspective and trading strategies)

Anyway, price is looking good for EURJPY which approaching our Target 1 around the Monthly Support: 120.00 with Fib Level (-27.0%) extension giving an extra confident of the target area.
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