EURJPY Daily Resistance Short Opportunity.

11 Nov 2016

EURJPY has reached a daily resistance zone (shown by the red rectangle. On the hourly chart, I identified bearish evidence and decided to go short @ 116.080. I'll take profits at the retest of the red trendline. However, a high risk reward ratio trade could be to see if we drop all the way back down to the daily support zone (shown by green rectangle). Stops are above the resistance zone.