EURJPY - Bearish engulfing candle show..a bearish behaviour sureEurjpy did a good rally upside as we predicted (see idea attached) and now it did a very nice rejection of the monthly R1+weekly SMA200 and 50EMA with a bearish engulfing candle on weekly timeframe.
On daily chart we can see that a doji candle show that market might pullback before the sell off resumes and therefore....
We should keep a look on H4 timeframe, a pullback and rejection of the yellow zone will be a good opportunity to short eurjpy targeting the bottom of the weekly channel and ascending trendline around ~123.00.
EURO futures confirm our position expectation.
S.L above 126.500 zone
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.