SHORT EURJPY DAILY CHART - What I Am Looking To Trade - Part 4

Take Profit hit today for a nice 3:1 Reward to Risk ratio trade.

Two things about todays candle:
1. Latest 4HR candle is a tall candle. Tall candles are usually retraced by as much at 50% on average.
2. Price action is now far removed from the 20EMA. Normally when price moves too far from mean value (20EMA) price will retrace back to mean value.

For these reasons I am now looking for a pullback on the 4HR TF for new high quality Short trade setups.

Note: I see Major Support at 114.0000 so there should be several more short trade setups in the days and weeks ahead

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