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Coleman: Selling EURJPY
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Ian Coleman is looking at EURJPY. Ian expects a move up from 135.71 earlier this month to be corrective and he explains that since Friday we've seen a strong sell off from the 78.6 percent pullback level at 137.52 (from 138.01-135.72). This offers a downward bias this week, posting a disjointed bearish Gartley Pattern. The lack of follow through selling has formed a corrective channel on the intraday chart and therefore Ian suggests selling into rallies.
Selling at 137.35
Stop: 137.65
Target: 136.50 & 136.00