The last 3 weekly candles on EUR/JPY have all touched the 200sma and failed to break through.
This looks a tough barrier and the first candle of the week is heading south.
TDI on the WTF suggests we may be moving lower with the RSI read down to 68.4 from higher levels.
130.64 is the WR1 key pivot resistance so a STOP above there at 130.70 gives a 100 pip STOP from current levels.
I'm in this market from 129.75 but will watch price action closely if this trade is still active tomorrow when we have a raft of PMI numbers.
If price breaks the 15m 200 sma at 130 area I may close.
This looks a tough barrier and the first candle of the week is heading south.
TDI on the WTF suggests we may be moving lower with the RSI read down to 68.4 from higher levels.
130.64 is the WR1 key pivot resistance so a STOP above there at 130.70 gives a 100 pip STOP from current levels.
I'm in this market from 129.75 but will watch price action closely if this trade is still active tomorrow when we have a raft of PMI numbers.
If price breaks the 15m 200 sma at 130 area I may close.