Potential short setup on EUR/JPY, we have had breakout of the ascending triangle which seemed to trap price just below resistance level of 1.23200-1.23400 where the bulls couldn't get a close above on the daily closed. Now we have had a breakout to the downside, and a re-test of the ascending triangle there is potential for a short setup on the 1H time frame.
Entry will be triggered if we get an MA crossover, and a break out the counter trend line.
I will most likely wait until Monday open to enter this move now as we only have a matter of hours before market closes.
Hope everyone had a great week.
Entry will be triggered if we get an MA crossover, and a break out the counter trend line.
I will most likely wait until Monday open to enter this move now as we only have a matter of hours before market closes.
Hope everyone had a great week.