timmynorin
Short

EURJPY (15min) Short setup, brief analysis

FX:EURJPY   Euro / Japanese Yen
My clues,

X-A 61.8% fibo reversal
1.618 fib extension
Overbought condition
Trend line resistance

We also have historical support and resistance zone within stop loss.

Target 1 - 0.382 fib of the leg
Target 2 - historical support and resistance zone, just above 0.618 fib of the leg.

If, however...
Plan B, if break and close above the falling trend line , I will look for opportunity to get long on this pair.
Trade closed: target reached: Target 1 reached, rolling stop loss to break even.
Comment: Stopped out on break even for second half
well done.
Reply
timmynorin ernstschwarz