Monday, November 5, 2012

EURJPY Triangle Trade EURJPY Short Trade
EURJPY on H4 charts has just broken a triangle to the downside. This lower trendline has just supported price since 11-Oct. 

Below the trendline comes 200EMA which was hard to break on many previous occasions. Currently 200EMA comes at 102.23. 

For short trade, my strategy is to wait for a break & daily close below 200EMA. Price may bounce from that area as well. So in that case I will wait for a bounce till trendline to open short.

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