Steep Channel Short on 1HRTF W/ 12EMA

Jan 25, 2015

after a bearish pennant, this pair broke out in response to the huge QE announcement. Since its release EUR/JPY has been respecting a steep channel, kissing low MA to meet these fast moving conditions. The dark cloud cover w/ assistance from the 12EMA gave me the confirmation to short w/ my TP at 131.033 (OLD level of interest on the Daily) Have now moved my stop loss to breakeven

Entry was : 132.629
Take Profit : 131.033