EURJPY - The 122.0 Major Psychological Support has been tested several times already, with lower highs being made each time.
The breakout looks to favour the horizontal support, as this will continue the strong bearish trend.
Entry - Approx 20 pips below previous low.
Exit 1 - Just above the 120.0 support
Exit 2 - Currently at 3.5 Risk/Reward Ratio but will need monitoring
These lows haven't been reached since early 2013, so a break here could spell another sharp drop in price.
The breakout looks to favour the horizontal support, as this will continue the strong bearish trend.
Entry - Approx 20 pips below previous low.
Exit 1 - Just above the 120.0 support
Exit 2 - Currently at 3.5 Risk/Reward Ratio but will need monitoring
These lows haven't been reached since early 2013, so a break here could spell another sharp drop in price.