Price has made a 78.6% retractive move which confluences with the R1 monthly pivot, trend-line and ichimoku cloud resistance. Bearish engulfing pattern formed at this confluence area.
Price has broken the counter trend line, which is enough confluences to place an entry short to an ambitious 104 target that confluences with the S1 monthly support, 104 round number and 27.2% fib extension.
There is key historical monthly support at 105.236 to watch out for.
EURJPY has a similar set up
Watch out for high volatile data to be released on thurs and fri US and fri JPY.
Price has broken the counter trend line, which is enough confluences to place an entry short to an ambitious 104 target that confluences with the S1 monthly support, 104 round number and 27.2% fib extension.
There is key historical monthly support at 105.236 to watch out for.
EURJPY has a similar set up
Watch out for high volatile data to be released on thurs and fri US and fri JPY.