DAILY SPOT EURJPY - Friday's trade idea and technicals
Bearish signals on the week and in each of the previous 3 days had been confirmed, but with downside momentum slowing with prices testing 117.45, a 62% pullback to the entire September gains, Thursday’s signals were more cautious and neutral. These were confirmed as sentiment traded sideways inside the specified range for a little changed close. Although signals are little changed, the absence of a bounce reverts Friday’s outlook to cautiously bearish and the call is to sell on the open and then at 117.93, Thursday’s opening trade with a stop loss at 118.20, Wednesday’s top. Targets are to 117.45, today’s low, 117.04, the last 3 week open and 116.83, the 4th Sep Marabuzo line.
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