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Coleman: Selling EURJPY as signals point lower
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Ian Coleman has charted a EURJPY
trade with a small inside Harami candle appearing medium-term and long-term looking for a break lower. An AB=CD formation targets 117.50.
With USDJPY breaking a Head and Shoulders pattern to the downside and term mixed trading for last 9 days, Ian sees symmetrical triangle pattern with all signals focussed on lower levels.
Trend of lower highs at 128.55
Bespoke resistance at 128.46
Selling at 128.46
Target: 127.50
Intraday stop: 128.86