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.
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?
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