Tuesday, November 20, 2012

EURJPY Wedge Short Trade

myfxvoyage.blogspot.com EURJPY Wedge Short Trade
Another wedge setup in JPY pair. EURJPY is making out a wedge pattern on hourly chart. 

Current area comes around previous highs near to 104. Price looks over brought and looks like its tired at these areas. 

I am expecting a pullback towards the horizontal area. I will go short if price bounces towards the upper trendline OR break the lower trendline.

I will be targeting the horizontal resistance area with a stop at high of 104.31.

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