No profit was taken as the trail was triggered last night. Tonight I am buying EUR/JPY around 113.20 with a TP 113.90- 114.00 and SL 112.60 -112.70.
The daily chart is looking pretty bullish with the 100EMA being breached and a cross in RSI below the 50 mark. A break of 113.40 could bring 114.00 in a heart beat. The 4 hour is looking bullish with 100EMA breached and generally positive price action, although that long shadowed candle is a bit intimidating. Hourly is looking range bound.
Shorter time frames are caught in mildly bearish range between 113.00. and 113.50. Look for a break of 113.50 for a possible entry if it looks strong.
P/L RESULTS = -55 pips
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