EUR/JPY- Does Not Stop Looking Bearish

By: Doug Rosen

This pair just recently broke areas it hasn't seen in years. It just keeps riding the 5 ema down on both the weekly and daily charts as well as the 4 hour and 1 hour charts and if the 5 ema gets breached then the 13 seems to get in the way and push price down even further.



We are currently sitting right on the Monthly S2 at 104.62 looking as though price is being crunched down by the 44 Hour 5 ema,and if this level is broken the next major level will be the weekly S1 at 104.11 just below the Daily M1 at 104.19



I would like to see if price can pull its way back to the 105.00 area where I would love to take a short and set a stop just at 105.30 Maybe give price a chance to rise all the way up to 105.30 area and set a stop just at 105.60



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