EURJPY pair went higher yesterday.

However, looking at H4 and H1 chart.  I see Bearish Divergence.   So I am expecting some pullback from the current level.

2015-08-13_15-11-10-EJ0

Reading from H4 chart above, I would say the price may drop to 21EMA (138.00ish).

2015-08-13_15-09-12-EJ1

And reading from the above Hourly chart, the price may come down to 55EMA (138.20 ish).

 

However, due to the Summer (thin) market, the Divergence may be a fake one.   🙂

 

If the price breaks the resistance, you know what to do right?

2015-08-13_15-22-59-EJ2

 

 

YJ Baik – Forex.Today @ Tokyo

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