a right angled ascending triangle can easily be seen on the 1d chart. the upward sloping trendline was touched recently and a bearish engulfing pattern was formed. stop at 8780. first target at 8515 ie previous lows. however the break of this support can pose better targets. a bounce at this support should give us a signal to collect profits. however another bounce seems highly unlikely as it is losing momentum. usdjpy gave a buy signal to me and eurusd gave a sell signal. the two give correlative evidence to suggest this trade.
