04-Hour Chart
(CLICK ON THE CHART TO ENLARGE IT)# Dailies show a new symmetrical triangle being formed (see yellow thich lines). MACD crossing a bullish trendline below 0,00 and pointing down favours the bears.
The march 07th´s close at 157.65 is a very relevant point: very close to central pivot point for March 10th at 157.58 and more importantly the weekly central pivot point at 157.60.
Even though I strongly believe in a bearish move for he EUR/JPY, it´s very tricky to find an entry point. A conservative approach would be to wait to see what happens with this symmetrical triangle but this might take a few days.
So the best approach on March 10th will be to trade the pivot points aiming to catch bearish moves. My main point is:
## SELL break 157.17 (M2) with STOP 157.58 (PP) and LIMIT 156.00
