Februaru 3
EURJPY was on the downtrend since Tokyo open. The downtrend ended at 126.00 level. Then EURJPY fade out from that level to be up-trending within an ascending channel. (refer to 5 MTF chart).
The uptrend end at point 1, which is about few pips from 126.50 level. A double top and EURJPY testing the lower channel line at point 2. At point 3, EURJPY failed to penetrate Tokyo opening price. That confirmed the downward moved of EURJPY>
The downtrend is being capped at 126.00.
On the 1 MTF chart, my entry is at the yellow vertical lines with exit at point B,C,D,E, F and G.
At point A which is point 1 on the 1 MTF, the price is at overbought with the both lag clued to the topmost level. First entry at 7:04 was made on BB Macd moving downward with prices closed below a doji and two consecutives close below the 5 SMA.
