EUR / JPY
EJ is in a long term down trend. Price has recently being pulling back and has stalled at the 50% Fibonacci level 97.80.
Chart below:
Price has formed a double top and has broken back down through the averages. This has allowed a short entry on the next pull back to the averages.
Levels and chart below:
1st Entry: 96.90
2nd Entry: 97.00
Averaged Entry: 96.95
Stop loss: 97.35
Target: 94.95 (5% and a previous reversal level)
Again the levels may change slightly, if they do, I will update again.
Best Regards
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