EURJPY / H4 / Daily Forex Technical Analysis / 5.9.2019

Hello Traders, welcome to the Daily Forex technical analysis. Today is May 9th, 2019 and we will be taking a look at the Euro against the Japanese Yen. This trade will have some dependency on whats going on between the U.S. and China trade relations. And we can see that we are at an area of support at the 123.350 region and it seems to be breaking downwards. If price action can break this area of support and break down to the next target zone, which would be the 123.087 area, with some bearish momentum we would be looking to enter a short. Entry for a Short position near the 123.093 area, with a Stop Loss near the local highs of 123.415, with a profit target level of 122.453 to ensure a profitable trade with a 1.99 to 1 R/R.