This pair over the past year or so has had a major bull rally but we have seen this start to slow down. It has made 3 lower highs in a row and this to me looks quite bearish
. Plus we have some candle conformation with those 3 highs all looking like shooting stars or not far off them. So i would place my stop somewhere a little above this trend line
i have drawn and my price targets are somewhere around the 118.311 major resistance level
. This trade has great R&R and there are a lot of pips to be made.