Forex Price Action Setups - Potential EURJPY Pin Bar Reversal - June 13th

pin bar reversal price action trading june 13th

The EURJPY formed a potential pin bar reversal setup two days back and has been struggling to make new gains into the upper regions of the rejection failing twice to breach the dynamic resistance and 20ema along with the key role-reversal level at 100.50.  Although overall short term momentum is up with the pair gaining 7 of the last 9 days, it doesn’t have much enthusiasm, and not surprising considering the Spanish bailout & upcoming Greek elections failing to allay any fears the EZ has turned the corner.  Because of that, we are open to selling rallies in key areas and we would be open to shorting at 100.51 or 100.90 for a move back to 100 and 99.15.  …

... Keep reading