EURJPY has been in the down trend for 2 months! and I continue to be bear with this pair.

The price is under 21EMA on Weekly, H4, Hourly charts.

Thus simply I would like to discuss about the next Short entries.

Here is H4 chart.  Currently falling along the down channel & riding 21EMA.  As the next short opportunities, I would like to suggest

a) 21EMA
b) 130.00
c) WPP (130.28)
d) 55EMA
e) 131.30 (Resistance & WM4)

 

The target?

You could say

a) 129.43 (DS2)
b) 128.90 (WS2)
c) 128.15 (Fib 168.2%, WS3)

 

Hope this helps you build your own setup.

 

YJ Baik – Forex.Today @ Tokyo