Following up on EUR/JPY short (sold at 128.60, stop at 127.45). Last post here.
We put a target at 126.00 before the dip to 125.96. The short position was closed with 260 pips profit.
As mentioned before, price actions from 125.13 could be a wave four corrective pattern in a five way sequence. It will probably takes some more time to develop. There will likely be a wave five decline through 125.13. But considering that it’s close to 124.61 key support level, downside potential might be limited.
So, we’ll keep our hands off EUR/JPY for now.