EURJPY Compelling Breakdown Continues

EURJPY Compelling Breakdown Continues


Last week saw JPY continue to advance adding further weight to the breakdown seen the week before

Price is currently just above resistance turned support at 124.094 and below here we have sloping trendline support the June 17 low (the two intersect, 20th Aug).

Traders not already short EUR / JPY could wait for the aforementioned levels to clear before taking a nice risk/reward entry targeting the next key support level at 114.851 using the overhead support turned resistance as a sensible basis for stop placement

Those already in the trade can use these milestones to add further positions and trail stops