Price has broken below the sliding parallel, of the downsloping median line
, having acted as strong support previously. For the upcoming week, we should watch for a pullback back to the parallel which most likely is going to act as resistance this time. Any sell setup completion at the parallel will be a very nice sell opportunity. A nice level to aim is the sliding parallel at around 1.11900. From there we may watch for price action before buying the market.
Overall I wait for EURJPY
to be bullish
, but taking short trades in both directions, when everything is set up is absolutely fine.