By FXEmpire.com
The EUR/JPY pair rose during the session on Tuesday, but finds the 97.50 area as resistive. Compounding this is the fact that we have a nice down trending line that the pair is currently smacking into. The trend is most decidedly down, and it of course makes plenty of sense for us to continue to sell this pair when given an opportunity.
Looking at this pair, it does make sense that we continue much lower, and as such we are looking for weak candles from which to sell. The European situation simply hasn’t gotten any better, and as such the buying the Euro overall just doesn’t appeal to us. On a break below the Tuesday lows, we are willing to sell. We are also willing to sell on shorter time frames if we get the correct resistive in week candle based upon the trend line too.
Click here a current EUR/JPY Chart.
Originally posted here
