Price has also fallen below the EMA50 and is heading towards our first price target of 123.158 which would make it's first Lower Low.
On the 30M chart we can see the EMA50 has now crossed below the EMA200 (Death Cross) and with strong divergence to the downside, this would support our decision to short the EURJPY pair.
Place your stop at 124.695 and price targets of 123.158 but we're not setting a TP, we will let this run and adjust our stop accordingly to secure profits.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
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Trade safe everyone and best of luck.
I was hoping we would have reached our target by now. We are strong on course, however, I have decided to close this trade ahead of the London session as it may take an about-turn on us. If you are keeping your trade open, trade with caution and monitor in a lower time frame.
Congratulations to everyone who entered this trade :)