Hello...
Technicaly EURJPY is one of the best short on Daily chart , but due to risk on mode JPY has been depreciating and EURJPY rose today mostly because of JPY weakness ,
As us stock markets are near all time high and have fallen this week to 26047 levels and further retracement can be expected as price has been rejected from top line of minor ascending channel . meanwhile Yen index has broken its descending trendline and most expectedly will find support at multi -weeks ascending trendline and is expected to find its strength in coming sessions ..
Euro has started showing some weakness and with Yen gaining its strength back we expect pair to start its move down ..
Only caution would be if US stock market bounce backs from support zone tomorrow and risk on mood continues which would be negative for yen..
For now technically we have a sell setup...
Technicaly EURJPY is one of the best short on Daily chart , but due to risk on mode JPY has been depreciating and EURJPY rose today mostly because of JPY weakness ,
As us stock markets are near all time high and have fallen this week to 26047 levels and further retracement can be expected as price has been rejected from top line of minor ascending channel . meanwhile Yen index has broken its descending trendline and most expectedly will find support at multi -weeks ascending trendline and is expected to find its strength in coming sessions ..
Euro has started showing some weakness and with Yen gaining its strength back we expect pair to start its move down ..
Only caution would be if US stock market bounce backs from support zone tomorrow and risk on mood continues which would be negative for yen..
For now technically we have a sell setup...