During Asian session The Yen managed to eke out some gains against other currencies and the EURUSD moved within the range of 1.2950 and 1.2910. The Yen got a boost from a better than expected March trade report.
One hour before European open, the EURUSD went toppish with a bearish hanging man candle. There were a lot of rumours of buying orders at 1.290 level. The EURUSD weakness pull down USDJPY and EURJPY along.
At European open at 7:00 GMT or 9:00 GMT on the above chart, I started my scalp trade.
EURJPY encountered a S/R level at round number 127.50 and the 24:00 GMT line at 127.45.
Open a sell entry at 9:21 with blue lag moved down below 85, CCI 21 cross the 30 sma with a negative BB Macd. My first target is at 200 ema but seeing CCI 89cross the zero line and blue lag and red lag went flat below 15 I moved my target at another round number at 127.00.
The pair keep falling down as EURUSD is moving toward the expected buy area of 1.290. I moved my target to 126.50 with CCI reach the extreme and a divergence of CCI and BB Macd.
