Yesterday I posted EURJPY Short trade setup.
I proposed several points for the possible short zones (H4 21EMA, WPP, 55EMA… ).
So far, the answer seems to be “Short from WPP”.
But it’s not too late, to trade this pair.
As you can see on M15 chart, it made DoubleTop + Lower Low. OK, so what we need to do is just to Sell from the next Lower High.
In addition to Fib38.2-61.8% as Sell zone, I also would like to add Fib78.6% as sell zone, simply because this is also Lower High.
Hope this setup helps you build your own.
YJ Baik – Forex.Today @ Tokyo