I posted the Swing Trade Setup of EURJPY, and here is the update.

Originally, I observed the prices were blocked by Weekly & Daily Ichimoku (Bearish) Clouds.

Thus I originally expected the price will drop from Fib50% level, but it went up and broke 61.8%.

 

However, looking at Hourly chart, the price just made Lower Low.  So if the price makes Lower High.   Aggressive traders may short from here, claiming this is H&S.  However, to be on a safe side, I would recommend to wait for the next cycle, waiting for another Lower Low, and sell from the following Lower High.

After all, this is a Swing Trade setup.  So you have to wait, and wait and wait.   🙂

 

Hope this setup helps you build your own.

 

YJ baik – Forex.Today @ Tokyo