EURJPY SHORT

This is by far my favorite set up for the week for the simple fact that there are so many confluences to short this pair. You can see price is incredibly bearish on all time frames ( trading below the 200 EMA), in addition to the fact price created a H&S pattern, ( broke the neckline), and rejected right at the 50-61.8% fib zone. Price also illustrated significant bearish pressure with the pinbar to the upside and a bearish engulfing.