This is coming off of a major Double/Triple Top on the daily with not much under it.
Right now probably an equivalent trade (in magnitude) with the AUDJPY short but probably a faster drop.
One can use <25 pip stops here until it fully breaks down - which shouldn't be long.
Here is the Daily
EURJPY broke out short last week from it’s recent ranging channel. Looking for further opportunities to short the continuation. This pullback needs to end before entry. Waiting on the price action.
Hey tradomaniacs,
welcome to a new free trading-setup
Notice: This is meant to be a preparation for you. As always we will have to wait vor a confiramtion.
EUR/JPY: Day-Swingtrade-Execution
Market-Sell-Order: 124,500
Stop-Loss: 125,410
Target 1: 123,480
Target 2: 122,890
Target 3: 122,000
Stop-Loss: 91 pips
Risk: 0,5% - 1%
Risk-Reward: 2,88
...
