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Hello traders and good to be back with you as we are in the London Open and we can see price action looks like it is sluggish waiting for the NFP numbers on Friday. Yesterday we had good ISM numbers from the U.S. session and it took the dollar above the 96 level. OK today we are looking at the EURJPY amd my bias is bearish and that comes from the daily and 4 hour charts.We are currently at resistance and sideways and I am looking for some reversal candles and I would like to enter this short with the trend so I have placed a trend line on the chart and looking for a break of that and a retest and a bearish formation to enter the trade at the price level of 115.600. I would be looking for a take profit at the price level of 114.248 as marked on the chart.

Thank you traders and we will talk soon……William

FX Instructor Forex Blog – For Traders, By Traders

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