EUR/JPY - SHORT

11 Nis 2015

OK so i got a little bit excited analysing this pair, ill give you a breakdown of the higher timeframes and leave it to you to find a safe entry on the lower timeframes!

Monthly

• MA's crossed bearish
  Bearish engulfing candle (January)
  Broke major support at 137.000 & Retested
  Next monthly support at 115.00
  

Weekly

• Trendline broken
  Weekly engulfing candle + marabozou
  About to take out previous lower low
  Rejected the 0.50 fib level
  Confirmed the 0.382 fib level
  Confirmed lower high
  Weekly support broken
  New LL expected upon break of 126.929
  

Daily

• Double Top
  Double Top extended range break coincides with -61 fib extension + weekly support
  

FIRST TARGET - 122.000
SECOND TARGET - 115.00