EURJPY has placed a double top in June 2022.
Since then price has tested , pulled back and then broken a major support level.
Sentiment is Bearish as price is below both the Kumo Cloud and the 50 EMA.
To enter a short trade
1. Entry = in the zone 1.37-1.38 . Confirmation with bearish pressure ie. double top on a lower time frame 1hr or 4 hr.
2. Stop - use the LTF ATR
3. Target - the next major swing support 1.32 - 1.33 level.
Since then price has tested , pulled back and then broken a major support level.
Sentiment is Bearish as price is below both the Kumo Cloud and the 50 EMA.
To enter a short trade
1. Entry = in the zone 1.37-1.38 . Confirmation with bearish pressure ie. double top on a lower time frame 1hr or 4 hr.
2. Stop - use the LTF ATR
3. Target - the next major swing support 1.32 - 1.33 level.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.