Even though I don't like trading on contrary positions for highly correlated pairs, like GBP/JPY and EUR/JPY, I'm longing EUR/JPY for the next few days. The pair is at a strong support level (plus round number: 140.00). The stop loss is tight with 3 times the take profit.
The daily uptrend line being broken and its retest is suggests a short position for me.
The short term trend is down and a down bar pinbar, with good volume, triggers my entry.