EURJPY pair has been in the range bound on Hourly chart, with Stochastic turning down from over-bought zone.  Also I see Bearish divergence on Stochastic.  So I would like to look for Short opportunity.

2015-08-07_14-00-22-EJ1

 

Looking at M15 chart (below), you notice the price is in mini range bound between WPP and DPP, since the end of NY session.

2015-08-07_14-04-58-EJ2

 

Thus, I would suggest to short from the current WPP level (please check for the reversal price action on M5, to enter the trade).   Another interesting short zone will be the break out of mini-Range, that is DPP (136.18).

Today is NFP day.  So don’t expect a high volatility.  The target should be the bottom of the range, 135.50 ish.

 

Have a great weekend.

 

 

YJ Baik – Forex.Today @ Tokyo

 

 

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