Euro Short Trade Triggered Against the Japanese Yen
Strategy: Short EURJPY at 127.84, Targeting 124.95
Prices put in a bearish Evening Star candlestick pattern below falling trend line resistance set from late May (129.48), hinting a move lower is ahead. We will enter short, initially targeting the April 16 low at 124.95. A stop-loss will be activated on a daily close above 129.89, the June 20 high.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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