EURJPY is running on a strong Monthly Resistance Trendline. This would act as a strong barrier to break because it has been tested 3x Times. The longer and more times a trendline is tested without being broken the stronger it becomes.
As Indicated the longer term weekly trendline has been broken and retested indicating strong selling signals. The 40 EMA also is in a strong downtrend on the weekly chart.
TP1 : 111.200 TP2 : 96.000
This is a Long term setup therefore I will recommend a small lot size when entering a trade.
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