EURJPY: Break and Retest - SHORT?
Good Afternoon,
As you can see from the chart price has broken the ascending trend line and is approaching a retest at a key S/R level so this would be a good time to keep your eye on this pair.
We could potentially see a short trade come into play if price reacts and falls lower from the trend line, however it seems the Euro has been a strong run today with pairs such as EUR/GBP, EUR/CHF and EUR/USD seeing gains so I would wait patiently for price action to confirm your entry.
RSI is at 72 currently so it seems the pair is overbought.
Let me know what you think about this pair!
As you can see from the chart price has broken the ascending trend line and is approaching a retest at a key S/R level so this would be a good time to keep your eye on this pair.
We could potentially see a short trade come into play if price reacts and falls lower from the trend line, however it seems the Euro has been a strong run today with pairs such as EUR/GBP, EUR/CHF and EUR/USD seeing gains so I would wait patiently for price action to confirm your entry.
RSI is at 72 currently so it seems the pair is overbought.
Let me know what you think about this pair!
Penafian
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