FX.co ★ EUR/JPY challenging 148.91 downside obstacle

EUR/JPY Strong Sellers!

The EUR/JPY pair resumed its drop and now is located at 148.87. As you can see on the H1 chart, the rate dropped below the uptrend line signaling that the uptrend ended and that the sellers could take the lead again.

Now, it has reached the 148.91 former low which represents the new downside obstacle. Personally, I've drawn a new downtrend line. As long as it stays below it, the EUR/JPY pair should extend its drop.

EUR/JPY Trading Conclusion!

Dropping and stabilizing below 148.91 should announce more declines. This is seen as a selling signal.