From the first week of June EURJPY shwoed trend reversal to bullish. From the low of 148.628 on Tuesday 6th June at 2100 hrs, it rose upto 157.955 on Monday 3rd July at 900 hrs.
Potential bearish reversal
on 5th July @ 2100 hrs the pair posted a Lower Low raising the flag for bearish reversal which was confirmed on 6th July @ 900 hrs and verified on 7th July @ 900 hrs when a new lower low, 155.382 was posted.
This lead to the generation of following trade plan.
Sell Limit : 156-111
Sell Stop = 155.382
Stop Loss: 157.153
Take Profit1= 153.611 (1:!)
Take Profit 2 = 151.8400 (1:2)
Lot 1 = 0.08
Lot2 = 0.08
Potential bearish reversal
on 5th July @ 2100 hrs the pair posted a Lower Low raising the flag for bearish reversal which was confirmed on 6th July @ 900 hrs and verified on 7th July @ 900 hrs when a new lower low, 155.382 was posted.
This lead to the generation of following trade plan.
Sell Limit : 156-111
Sell Stop = 155.382
Stop Loss: 157.153
Take Profit1= 153.611 (1:!)
Take Profit 2 = 151.8400 (1:2)
Lot 1 = 0.08
Lot2 = 0.08