EURJPY - Long term view

FX:EURJPY   Euro / Japanese Yen
After having broken out of the trendline , the price proceeded to rise to 123.80 where it has now found its self in a range but a break out is likely to happen sooner rather than later. Price action on the weekly candle is good ( bearish engulfing ) following last weeeks hanging man . Ultimately this pair may want to bounce off the retest of the trendline but for now, I am happy to look for shorts aslong as we are trading below 121.000/50EMA
great trade
still waiting to break out of structure
121.000 is proving hard to close below
Looks promising, institutions have been increasing net shorts on this pair over past few weeks which could help this along;
@derby, yes definately a strong bearish bias to this pair. Where do you get the institutions info from?
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