eur-jpy-15mTrend is bearish in EUR/JPY currency pair in 15 minutes time frame. Short term resistance is present at 128.74 price level. Based on Elliott wave analysis, I expect price to rise up first towards 0.786 Fibonacci re-tracement level. Next, look for a top and a drop in price of EUR/JPY currency pair. Current price action offers a possible short term sell trading chance to join the down trend. However; a bullish break out in price above 1287.74 resistance level will end the down trend. In such case I will stop trading and re-analyze the price chart of EUR/JPY currency pair.

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