Potential EURJPY Short: Going with the Risk-off flow
Believe I'm not the first to say this but EURJPY has closed below the bottom of daily cloud yesterday.
Tenkan and Kijun-sen both points bearish for the pair.
The red descending TL also suggests pair might be heading for the sub-140 region.
Coupled with the current market risk off sentiment and holding the opinion that a reversal in USDJPY is more likely than one in EURUSD, I'll sell EURJPY if it goes near the cloud at 141.50.
SL at 142.20
TP at 140.30 (140.33/11 might put up a strong fight to see if this pair will continue trading > or < 140)
Risk-Reward is 1.71x
Tenkan and Kijun-sen both points bearish for the pair.
The red descending TL also suggests pair might be heading for the sub-140 region.
Coupled with the current market risk off sentiment and holding the opinion that a reversal in USDJPY is more likely than one in EURUSD, I'll sell EURJPY if it goes near the cloud at 141.50.
SL at 142.20
TP at 140.30 (140.33/11 might put up a strong fight to see if this pair will continue trading > or < 140)
Risk-Reward is 1.71x
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