Im trading the current brake down on EUR/JPY based on this head and shoulder on the hourly chart. There is still an opportunity to enter on a possible retest of the backside of the trendline as price has currently found support at the S1 pivot(london). There is macd divergence on the four hour chart backing up the hourly chart pattern and price is currently trading below the central pivot. The recent carry trade/equities rally is really pushing it I believe, and is overdue for a correction . Who knows it could be the start of the next leg down and push into the 1.40's in another panic sell off. Of course a break north of the head will put the next crash on hold for a while. What do you guys think?
BTC Return This Year:
1.4%