EUR/JPY:
Date: 13 January, 2017
H4 Graph: Medium Short Trend and short move lower
After a 3rd high and now break up, the price fell and made a break below the strong support zone at 122.200/121.8 and then came back for a retest. Possibly continuation of the short move. Price remains below the 50/200 ЕМА.
Price Action: Doji bar at level of strong horizontal resistance - Possible signal for short.
DEM - Already in negative zone
Alternative scenario: If the price moves up and passes above 122.200 /122.50, this will cancel this bearish setup.
Price for Entry short: 122.000
SL: 122.550
Trader - S. Fuchedzhiev
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