EURJPY Analysis

EURJPY Failed to break above structure by being unable to create any higher highs and breaking above the resistance area which also lined up with fib levels. We are now seeing downside which is supported from COT position which shows banks still continuing to add long positions to the yen. We're seeing banks start to accumalate some strong long positions so we can expect some price manipulation. Nice r/r ratio of 4 on this trade setup.