EURO/JPY Short ahead of new year.

31 Des 2015

EUR/JPY daily chart analysis. Looking at a clear downside target for this pair, as we can see EUR/JPY used to sit in between a wedge formation however broke below this wedge, and further continued to break and close the previous support zone, however it then put in place a more recent support zone which was broken however price then rallied up, heading towards the descending trend line once more, recently price has slowly retreated back down, and now has broken both support level once again after putting place a lower high. this indicates to further downside to come, and we have our eyes set on the green zone target.