Get started
MEX_Exchange

EURJPY testing major resistance, start to sell

Short
Euro / Japanese Yen (FX:EURJPY)  
MEX_Exchange  
FX:EURJPY   Euro / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns EURJPY EUR jpy eurjpyshort eurjpylong eurjpysignal eurjpytrade Forex forextrading
6
0
trendanalysis harmonicpatterns chartpattern eurjpy eur jpy eurjpyshort eurjpylong eurjpysignal eurjpytrade forex forextrading
Sell below 134.15. Stop loss at 134.92. Take profit at 132.01.
Reason for the trading strategy (technically):
Price is testing major channel resistance and we look to sell below this level of resistance (Swing high resistance, channel resistance, Fibonacci extension) for a short term correction to at least 132.01 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,3,1) is seeing major resistance below 96% where we expect a further drop from.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.