EURJPY to go lower.

Why it is lower?

• The pair has been lower since the creation of a double top and bearish divergence since early this year.
  

• However after price penetrated the double top neckline, it retested it in May and since then price moved within within a well defined range.
  

• Price move into a consolidation since late Oct and created a descending triangle.
  

• A few days ago, a bearish price action penetrated the support of the triangle.
  

• The support was then retested yesterday but failed with a bearish key reversal.
  

• The pair might be heading lower towards 124.5.
  

• Already short this pair at 127.23.
  

Good luck and happy holidays!
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Trade fechado: objetivo atingido:

TP hit. Stand aside for now.