it looks like EURJPY has respected a key daily level 121.0. on 1H the price has formed a double top formation and during the last hour, it broke below its minor support.
now we can expect a further decline.
target levels: 120.4 120.0
if you missed the entry, the safest option is to wait for a retest.
With these targets, it looks good to me, but I'd go long after the price turns back and heads north, considering the trend on H4. I think it's the accumulation phase on the longer TF. Do you trade these phases, @VasilyPonomarev ?
VasilyTrader
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@TradAIR, I am trying to combine a higher time frame (daily) perspective with short term (1h)
I saw a solid key level and consequent bearish reaction on 1h, that made me short ;)