EURJPY pais jumped up a lot yesterday after ECB Rate Decision Announcement.

I would like to review where we are, and discuss about what to do next week.

(Since today is NFP day.  So no trade setup today!)

 

So the price jumped up.  Where did it stop rising?

2015-12-04_14-38-59-EJ1

Oh snap!  🙂   The price has been rejected by Daily Ichimoku Cloud (on the left)!!   Also notice Weekly Ichimoku Cloud is just above the current price.

So I can say the price is not likely to go any higher.  But even if it does, it will again be blocked by Weekly Ichimoku Cloud at 135.00.

 

Another chart that we should be noted is the Daily chart below.

I can draw a big downtrend line since Dec 2014, and the current price is touching this trend line.   Also the current price is touching the resistance.

2015-12-04_14-42-56-EJ2

 

So starting next week, I will again look for Short opportunities.   But not today!  🙂

 

Today’s NFP could mess up this observation.   Only advise now is … Buying this pair, right now may not be a good idea…

 

YJ Baik – Forex.Today @ Tokyo

 

 

 

 

 

 

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