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Coleman: Sell signals in EURJPY

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May 12, 2015 currecny eruo dollar, currencies, currency, currency crisis, currency cross, currency market, currency markets, currency pair, currency pairs, currency peg, currency rates, currency reserves, currency strategy, currency trade, currency trading, currency trends, currencywar, eur, euro, euro area, euro yen, europe, european central bank, european economy, eurozone, eurozone crisis, eurozone economy, eurusd, extension levels, fx, fx award, fx changes, fx crosses, fx forex, fx investing, fx market, fx markets, fx options, fx saxo bank, fx spot, fx strategy, fx trade, fx trade idea, fx traders, fx trades, fx trading, fx trends, fx volatility, fx volatitily, head and shoulders pattern, ian coleman first 4 trading, saxo, saxo bank, saxo bank forex, saxo bank group, saxo bank saxo tv, saxo bank trading, saxo bank trading floor, saxo bank tradingfloor.com, saxo bank tv, saxo capital markets, saxo forex, saxo traders, saxo trading, saxo tv, saxo tv saxo bank, saxo tv trades, saxo tv trading, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxobank.com, saxotrader, saxotv, social trading, technical analysis, technical analyst, technical level, technical selling, trade, trade idea, trade ideas, trade view, trader, traders, traders tale, traders tale ian coleman, traders tale saxo tv, trading, trading currencies, trading floor saxo tv, trading fx, trading idea, trading risks, trading strategy, trading tips, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, tradingfloor.com trade ideas, yen, yen chart, yen crosses, yen dollar, yen drops, yen euro, yen fall, yen falls, yen interest rates, yen next move, yen rise, yen safe haven, yen strength, yen weak, yen weakness

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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