SN_Doumet
Short

EUR/JPY - TIME FOR A DEEP CORRECTION?

FX:EURJPY   Euro / Japanese Yen
From the looks of it the pair has completed an Expanding Diagonal, therefore I expect a deeper correction to occur if the pair is to continue moving higher up. On the Weekly TF we also have a rather strong Bearish Divergence which is why that could be signalling a deep pullback in the making.

My personal details:
Potential Short @ E: 134.50, SL: 135.30, TP1: 128.00, TP2: 122.85, RR: 14.6

For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.

Comment: a closer look on the EUR/JPY ...Just go to show how easy life becomes by identifying patterns
Comment: sharp drop coming...?
is this chart still valid ? could you please give more information or update to the chart ?
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SN_Doumet mastertape1
@mastertape1, Update is in due course. For now it is not on my watchlist.
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Sorry some beginner question what "RR" stands for?
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@Xashaa, Risk-Reward ratio
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