EUR/JPY - SHORT | HP Rating: 10

FX:EURJPY   Euro / Japanese Yen
Firstly, HTF gives us key areas of price action. We can see on HTF that we have lost momentum moving towards the DT and have formed a larger expanding channel, which has broken impulsively. Although we have had a retest of this break area, the LTFs are showing signs of exhaustion and reversal. With a tight corrective, ascending channel it is a high probability we have a break of the phase line to continue to the downside. Clear profit target and a move which could offer scale ins also, although possible to reach the DT area again, the other factors outweigh this massively on how price action is moving.