EURJPY is moving in a kind of chanel (in grey).
EURJPY dropped massively in August by in about 1 000 pips.
On weekly we are dealing under EAM 50, we are in a small part where the cloud is very thin, the 2 sen are still showing bullish trend, the Chinkou span is trading on the top of the cloud and above the rates.
MACD is near to enter in bearish trend, RSI have already crossed.
Everything is showing the current trend following, think EURJPY is going to 153, in coming weeks.
On daily everything is bearish but we are arriving on area of support, a bounce could be seen close to 158.60.
In the uptrend
Be long @165.29 SL 162.47
Be short @162.47SL 165.29
In the downtrend
Be long @156.83 SL 154.01
Be short @154.01SL 156.83
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