EURJPY Short @~135.100
Price has been moving lower recently, creating a descending triangle (bearish pattern).
Intermediate supply zone @ ~135.210. Reaction from the area should hopefully bring about a drop in price.
Distance of drop should be equal to width of triangle (all things being equal). Possible target, 134.000.
The zone @ ~135.580 has been tested a few times and should be watched as although it has been tested and demand is reducing, the zone can still be a stumbling block to profit taking.
Intermediate supply zone @ ~135.210. Reaction from the area should hopefully bring about a drop in price.
Distance of drop should be equal to width of triangle (all things being equal). Possible target, 134.000.
The zone @ ~135.580 has been tested a few times and should be watched as although it has been tested and demand is reducing, the zone can still be a stumbling block to profit taking.
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