EURJPY was on the slide since European opening. The EURUSD was trading at narrow range with the Yen crosses slipping as Japan recorded an improved 3rd Qtr GDP. EURJPY slipped from 134.30 to 133.14. EURJPY recovered to the 38.2% fibo retracement at early Asian session to 133.55. It made a swing low at 133.05 and the prices went sideway within a range of 20 pips. Upon penetrating the downtrend line (the red line) I made an entry for buy. My target is to the area of 61.8% retracement of swing high 133.55 to swing low of 133.05. Upon reaching the fibo 61.8%, prices formed a dark cloud cover candle and the Asian open price provides the resistance. Enter for short with target of 20-25 pips.
