EURJPY reversal began at late Asian session yesterday. The cross gain strength as EUR strengthened across all pairs.
The cross uptrend was supported by the red trend line and it managed to breach the 60 ema by mid day Asian session (refer to the 1 HrTF chart). The cross is expected to experience a resistance at 61.8% retracement and the 200 ema. I look for a short entry at about 7:00 GMT or at London open.
Entered a short position at 7:19 GMT with indies showing bearish sign. Entered at 133.95. With my target price of 30 pips, my exit will be at 133.65. With the cross moved almost flat, I exited at 133.78 when the indies indicated a reversal.
I waited for any short position again since I believed the cross has showed weakness especially looking at longer time frame.
Entered a short position at 133.85 (8:04 GMT) with target at 133.55. Managed to achieve the target 25 minutes later. Total gain is 47 pips.
