FX.co ★ jerome82 | EUR/JPY

EUR/JPY. Good afternoon. Euro/Yen today continues slowly trying to turn to the south, but it’s still a bit early to talk about opening short positions at the moment. On the hourly chart the indicators have just drawn a full-fledged sell signal, but here it has not been activated. The pair is standing right at the activation point, so there is a chance to take a walk intraday roughly to 185.15-20. It’s just that opening short positions here is preferable only with more complete confirmation from the technical side. On the 4-hour chart the indicators are still looking to the north, and the pair is heading to test the middle Bollinger band from above, where, depending on a breakout or a bounce, it will show its further bias more clearly. I’m more inclined to the scenario with a breakout and a decline, but for now all this is only within the framework of my “wishful thinking”. Although one of the lower-window indicators is already also hinting at this scenario.