EURJPY short at market price (bid 132.10) Take profit: 130.20 Protective stop: 132.98 Risk Ratio (RR): 1: 2.2 (approx.) Estimated duration: 7 days
Relevant as long as EURJPY is above 131.75
Note: This is a 4hr entry based off the daily chart. The potential drawdown is a re-test 132.55.
Trade closed manually
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Based on the prior 4hr close there are some risks EURJPY may re-test 132.50 with the ability to break above. We waited until we neared the daily close to see whether the price can continue trading lower.
As it is not the case at the time of this writing we see no valid reason to remain in the trade.
EURJPY is trading at 131.96 at the time of this writing, we are closing the short trade at market price.