EUR/JPY 1-hour
Long/Short: Short
Entry Point: 100.895
Stop Loss: 103.095, will move stop loss to break even when the profit is more than 50 pips.
Profit Target: 98.895 or when a new crossover of EMAs shows up
Trade Explanation:
Technical: There is a Bearish Engulfing at the end of the uptrend, thus showing a bearish reversal. 5-period EMA is crossing the 10-period EMA from the top. RSI is moving towards below 50th level. Strong bearish reversal is showing.
Fundamental: The euro will fall against the yen on after eurozone policymakers concluded a Monday meeting without deciding when it will disburse a EUR31.5 billion tranche of aid to Greece.
