Euro / JPY is in a down trend. Price has recently pulled back 50% of the last moved down.
Charts below.
I am looking for a short entry after the break of trend line support and the push down through the averages.
At the time of writing EJ is still a little oversold so the entry levels may change slightly.
I am waiting for an over bought stochastic and a pull back to the fib levels and averages before I enter the trade.
Entry levels and chart below.
Entry: 101.35
Stop: 101.65
Target: 99:85 (5%)
I will update once the trade has been triggered.
Have a good day
Regards
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