(Click on the Daily chart to enlarge it)
Dailies are quite unclear...prices hit a resistance at 134.50 with a Bearish Harami last Friday Sep. 18th. This favours the Bears but in the beginning of last week prices hit a bottom of a major Bullish Channel and now all indicators/oscillators are pointing up.
That is why the EUR/JPY is unclear...
In the short-term scenario prices are trapped in a Bullish channel.
My strategy is to go SHORT at break of 133.70 or enter LONG if this same price level 133.70 works as support.
If a Bullish trend resumes I will add lots at break of 134.50 and 134.77.
If a Bearish trend resumes I will add lots at break of 133.32 and 132.80
