EUR/JPY - Trend Continuation (Short)

EUR/JPY - Trend Continuation (Short)

Hi Trader

I am pleased that one of our USD/CHF made nearly once percent profit, unfortunately it stopped because of volatile swing due to major news on US$. Anyway it was a winner.

I shared EUR/JPY - Trend Continuation (Short) few days ago, today its giving us opportunity to go short. As you can see that its making a beautiful downward channel, its hitting the top (resistance level).

Its seems a high probable trade which is scoring following 7 points.

1. Lower Lows & Lower Highs

2. Horizontal Resistance                          (Soft level SR level 130.70)

3. RSI Convergence

4. Bearish Price Action                            (High Test Bar, Nearly Doji as well)

5. No Major level of Support in the way

6. Fib Resistance                                      (0.618)

8. Trend Line Resistance

Unfortunately today's bar size is about 130 pips so the prop traders on half a percent risk won't be able to take this trade.