The EUR / JPY has stumbled Friday on 132 points in strength and validated a break its short term bullish slant (pink segment on the 1H chart).
The pair has just approved this morning a break-down of 131 points (sell signal), but the medium-term bullish slant is currently support (blue line on the graphs).
I would advise traders to treat the EUR / JPY based on 131 points:
- That Shorts positions (for sale) under 131 points.
A break of 130.50 point then offer a new sell signal for a return on 130 points in medium or lower if this level is broken down.
- That Long positions (with purchase) above the 131 points.
A break of 131.50 point then provide a new buy sig
