Working through early part of ECB and so far we’re 2 of 2 from the setups looked at yesterday. EUR/USD is bouncing up from support at prior resistance, and EUR/JPY is falling through breakout support.

EUR/USD Hourly

EUR/USD Hourly Chart

EUR/JPY Tests Through Support After Bearish Engulf

Yesterday saw the build of a bearish engulf here in EUR/JPY. The pair tested through support, triggering shorts and continues to carry downside potential.

EUR/JPY Daily Chart