Tuesday, October 23, 2012

EURJPY Daily Channel

After big move yesterday, EURJPY is pushing against daily channel. I am watching this channel from past few session, details [here].

myfxvoyage.blogspot.com EURJPY Short Trade
After YEN weakness yesterday, XXXJPY pairs were mostly up. EURJPY got stalled right at the channel's upper boundary. Looks like its going south from there. This channel has constrained the price since last week of July-12. 

I am expecting this channel to hold well. I am short this pair from 104.30 and looking for a move to 103.50/60 area.

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