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The EURJPY is making lower lows on the 1 hour chart. I like a short trade at or below the 50 SMA (142.00). I drew the Fib line to show 3 points of resistance: 50 SMA, 50% Fib line, and the pivot point. Plus the pair is already below the pivot point, so there is a tendency already to go short.
I’m going to place my stop at 142.18, right above the 61% retracement line. As usual, I’m going for 10 pips.
My aggressive target will be at 141.64, the S2 area. Good luck and good trading!
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