EURJPY At Critical Sell Level! Await Break Of 130.000 Support

Have a look at the weekly chart for EURJPY. Here we can clearly see that the price is in a bullish flag and pole formation. At the moment a consolidation should be expected as the price lies at the critical sell zone.

Now looking at the smaller picture on the main chart, to go short a concrete confirmation is required. The ideal point of breakage should be considered the daily candle breach of 130.000 psychological support. Once the daily candle has closed below 130.000, it is highly probable that the price would start to accelerate downwards.

Trade sample (The daily candle must close below 130.000 first)

ENTRY POINT: AT AROUND 130.000
STOP LOSS: 131.600
TAKE PROFIT: 127.600
RISK TO REWARD: IDEALLY 1:1 SO ADJUST THE ENTRY ACCORDINGLY


Trade safely and with confirmation. Cheers