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Hello traders good to be back with you. We are starting the London session off to a good start as we look at the EURJPY. Well yesterday was very slow with price action and really started to wake up late in the NY session. Was nice to see this pair break out yesterday and has just continued the bearish trend. So today we have placed the Fibonacci tool on the chart and we need a pullback, I am looking at the 61.8 at the price level of 123.00 would be a nice sell entry. I am looking to take profit at the support at the price of 122.40 as this is current support. Traders be alert to any data coming out of the JPY as we expect them to do something to weaken the yen as you know they will not give you any kind of notice so just get to break even as soon as possible.

Thank you traders and talk soon…..William

FX Instructor Forex Blog – For Traders, By Traders

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