Currently have what looks like a retracement on the downtrend with EURJPY, up to the 50% zone. It is also sitting around a support / resistance at this level too, there is the potential for a head and shoulders pattern to complete, with indicators showing the bull power slowly running out. This could start the final leg of the right shoulder. I will be waiting for a break of the neckline and re-assess how it looks then, if it is all good then I could short down to the supply / demand zone which has been proven to be a strong turning point for this pair over the past few weeks.
NFP today to so it could blow everything out of the water!
NFP today to so it could blow everything out of the water!