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Coleman: Sell signals in EURJPY
EURJPY has formed a Head and Shoulders pattern on the intraday chart and technical signals are indicating a downward shift. Ian Coleman from First 4 Trading notes that trading has been mixed, but buyers have entered the market on dips below 133.80. Ian is using this level as a gauge for the neckline of the pattern and is looking to sell into the right shoulder of the formation. He has identified a sell zone between 135.28, the previous swing high, and 135.42, the intraday 261.8% extension level. Ian plans on selling at 135.28 with a stop at 135.68. His two targets for the trade are 133.75 and 130.75.
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Non-independent investment research disclaimer
01:14 minutes
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