After a very strong bullish movement, the EURJPY pair pauses in its rise and may correct even more in the upcoming hours. The first target can be set at 126 which would correspond to a pullback on the former resistance. The crossing of the pair below its moving average at 7 sessions is one more element suggesting this corrective movement. Investors may therefore initiate a bearish trade on the pair with a stop loss placed above the last highs.
Direction: Down
Entry: 128.88
Stop-loss: 132.10
Take-Profit: 126.10
