DLavrov
Short

EURJPY Trading Idea

FX:EURJPY   Euro / Japanese Yen
119 0 19
The pair is near the level which looks interesting for possible trades. Price reached the resistance level and we have a signal for short trades. There are several reasons for this. Price have been moving between 116 and 112 levels more then 3 months. We have range market conditions confirmed by DMI indicator. MACD and RSI confirm price reversal from the resistance level . Our entry level for short trades can be below 114.90 with stop above 116.70. Profit target is the support level . But if price breaks the local swing high, we'll have a signal for long trades.
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