Among Japanese Yen cross pairs, EURJPY was the only pair that shows BUY sign on Ichimoku chart.

However, it finally became bearish on Ichimoku as shown below.

2015-08-27_12-04-27-EJ1

Now the Cloud can be a resistance.

H4 chart (below) looks similar to Ichimoku.  The price broke the support, and now back to the role-reversal area.  Ready to sell?

2015-08-27_12-06-38-EJ2

2015-08-27_12-08-58-EJ5

If you sell now, then you are simply betting.   Please confirm Lower Low, followed by Lower High, before getting into the Short trade.

The target should be … at least down to the Double Buttom (135.50)

 

Hope this trade setup can help you build your own.

 

YJ Baik – Forex.Today @ Tokyo

 

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