EURJPY: BOJ fueled short pt. 2

We have interesting news releases coming out tonight, and thoughout tomorrow's session.
The technical chart shows an uptrend that is showing signs of exhaustion after correcting the strong decline from the December high from March 16 onwards.
The advance was halted when price reached an area of weekly low volume resistance, where the market was extremely one sided. These areas can reject price and stop the bulls' advance very reliably.

Now the market remains motionless after a strong selloff, which confirmed an hourly downtrend signal, while the 4h chart shows a volume buildup on the lows, increasing selling pressure after the sharp leg down completion started a sideways correction. I expect to see a strong move coming out of this juncture, fueled by the news releases.

• 23:00 US USD FOMC Member Williams speech 1
  FRIDAY, MAY 22
  
• 02:00 CN CNY CB Leading Economic Index (Apr) 1 0.2
  n/a JP JPY BoJ Monetary Policy Statement 3
  
• 03:00 JP JPY BoJ Press Conference 3
  
• 06:00 DE EUR Gross Domestic Product w.d.a (YoY) (Q1) 2 1.1%
  
• 06:00 DE EUR Gross Domestic Product s.a (QoQ) (Q1) 3 0.3% 0.3%
  
• 06:00 DE EUR Gross Domestic Product n.s.a (YoY) (Q1) 2 1.1%
  
• 06:45 FR EUR Business Climate (May) 1 101 101
  
• 08:00 DE EUR IFO - Expectations (May) 2 103.1 103.5
  
• 08:00 DE EUR IFO - Current Assessment (May) 2 113.6 113.9
  
• 08:00 DE EUR IFO - Business Climate (May) 2 108.3 108.6
  
• 08:00 IT EUR Industrial Sales s.a. (MoM) (Mar) 1 0.4%
  
• 08:00 IT EUR Industrial Orders s.a (MoM) (Mar) 1 0.8%
  
• 08:00 IT EUR Industrial Sales n.s.a. (YoY) (Mar) 1 -0.9%
  
• 08:00 IT EUR Industrial Orders n.s.a (YoY) (Mar) 1 2%
  
• 08:00 EMU EUR ECB President Draghi's Speech 3
  
• 09:00 IT EUR Retail Sales n.s.a (YoY) (Mar) 1 0.1%
  
• 09:00 IT EUR Retail Sales s.a. (MoM) (Mar) 1 0.2% -0.2%
  
• n/a GR EUR Current Account (YoY) (Mar) 1 €-0.929B
  
• 12:30 US USD Consumer Price Index Core s.a (Apr) 1 240.79
  
• 12:30 US USD Consumer Price Index (MoM) (Apr) 2 0.1% 0.2%
  
• 12:30 US USD Consumer Price Index n.s.a (MoM) (Apr) 1 236.71 236.12
  
• 12:30 US USD Consumer Price Index Ex Food & Energy (MoM) (Apr) 2 0.2% 0.2%
  
• 12:30 US USD Consumer Price Index (YoY) (Apr) 3 -0.1% -0.1%
  
• 12:30 US USD Consumer Price Index Ex Food & Energy (YoY) (Apr) 3 1.7% 1.8%
  
• 13:30 JP JPY Bank of Japan Governor Kuroda Speech 3
  
• 13:30 EMU EUR ECB President Draghi's Speech 3
  
• 19:00 AR ARS Trade Balance (MoM) (Apr) 1
  

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