» EUR/JPY - Euro Yen, European Session - 09/05/08

159,49. EUR JPY is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR JPY. The downtrend should continue to gather momentum. The target is expected at 153,00 (650 pips). The price should find a support above 159,00.
=> We could take a short position at 159,50. We will put the stop loss above 160,10 (-60 pips). The targets are 158,00 (+150 pips) 156,00 (+350 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.