Chart of the Day EURJPY

EURJPY is breaking below the channel rectangle

EURJPY is breaking below the 116.200 channel rectangle. A confirmative break would lead to an extreme downside extension into 112.  Only a daily close above 117 level could invalidate a downside extension and that is where the stops for the short trades should be. RSI (34) is breaking below the 35 level and indicating further weakness. ARMAT trading system is pointing to the downside

Note: look for the short trade opportunities with the stop loss above  117 level

 

 

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