EURJPY pair has been up dramatically, and now facing the strong Resistance (WPP, Fibonacci 61.8%)    Since I am a Bear with this pair, I would like to short from this level.

Conservative target will be 135.70 (DPP, MPP), but the aggressive target will be 135.00.

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However, M15 still looks bullish.  So I wouldn’t blindly enter the short trade from here, or even from WPP.   We should always confirm the reversal price action, before entering the trade.  In this case, I need to look for Lower Low and Lower High before pulling the trigger.

 

 

 

 

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This could be London Open trade.

 

YJ Baik – Forex.Today @ Tokyo

 

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