EURJPY – Coming into Supply (Resistance)

Click here to view the chart.
– EURJPY has been in a long term downtrend (since April 2011).
– Current retracement started around mid Jan 2012 from a low of 97.02 .
– Price coming into a supply zone (resistance) which also confluences with the 38.2% FR of the last significant down move.
Would look to short around 101.77, with a SL above 102.60.
This entry was posted in EURJPY, Fibonacci, Forex, Misc. Setups, Support (Demand) - Resistance (Supply). Bookmark the permalink.

One Response to EURJPY – Coming into Supply (Resistance)

  1. Pingback: EURJPY – Coming into Supply (Resistance) | One618 Trading Blog

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