EURJPY short to 1.19360

Macro analysis; Taking a look at the most recent price action, we can see 3 times where the price spiked above 129.40 and closed below. After price firmly touched the liquidity band in 129.60/80 to the tea, the price fell down, creating a new lower low below the daily key line. The next candle up doesn't show much volume which might indicate a loss of steam. Money has been picked up, seeking to a drop off at 1.19360, where the next key daily level is + liquidity band. Daily and weekly timeframes also indicate new bearish momentum with multiple spikes to the upside.

Micro analysis; Price went down after a touch of the HTF liquidity band. Creating a new Asian low, after that the Asian session took price higher, creating an Asian high which got tested 3 times before falling off. 15M closure below the macro key line is an indication to open this position.

Main negatives:
- Price is trading above the daily key line of 129.20
- Price requires to break multiple key lines
- Short term trend is bullish (higher high, higher low; Next 4H candle will determine a lower low or higher low)
Chart PatternsEURJPYTechnical IndicatorsTrend Analysis

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