EURJPY Descending Channel
Euro Fx/Japanese Yen FX:EURJPY
EURJPY has found resistance at the 132.00 level. We have made a lower high and a lower low on the daily time frame, could this be the start of a new descending channel ? After a lovely pin-bar candle stick confirming a downward move we have entered EURJPY short with multiple take profits at key support levels. Stop loss positioned above the wick of the pin-bar giving us a great risk to reward ratio. Will this be the start of a new channel or will we trade higher ?