EURJPY : Shorting chance

FX:EURJPY   Euro / Japanese Yen
Analysis :

Current swing is completely bullish withouth any valid pullbacks (just smaller pullbacks happened).

EURJPY             is up against resistance and we are having Double top in same zone with RSI Bearish Divergence

If next candle ends as Bearish Candle "Enter" else stay back dont enter trade.

Entering the trade after the current trend line break is also good strategy

Happy Trading !!
Trade active: Hope you guys have used this trade idea and shorted EURJPY
Trade closed: target reached: Late update
Where do we short to? TP?
+1 Reply
@Sunjumper, We should have shorted around 122.5 and target around 121.5
Thank you so much. May i learn something from you, how do we know when it will hit 50% or 61% retracement? Originally i thought it will bounce at 50% but obviously im wrong.. thank you for your time
+1 Reply
When you draw fib retracement for previous swing(blue trendline in above chart) you will get fib levels as 50% n 61.8%. But that alone wont be enough to make valid trade decisions. Thanks for your support !
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