EURJPY Trading Idea

The pair is near the level which looks interesting for possible trades. Price reached the resistance level and we have a signal for short trades. There are several reasons for this. Price have been moving between 116 and 112 levels more then 3 months. We have range market conditions confirmed by DMI indicator. MACD and RSI confirm price reversal from the resistance level. Our entry level for short trades can be below 114.90 with stop above 116.70. Profit target is the support level. But if price breaks the local swing high, we'll have a signal for long trades.