The price of EUR/JPY has moved into a bearish situation on the 15-mn chart following a break of the support structure and a current retest for entry.
Bears may see this as an opportunity to short with a stop loss above the recent highs, targeting a 1:2 risk to reward to prior resistance structure on the 4HR time frame.
1-hour chart
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15-min chart, MACD turning bearish
-637333079323531921.png)
4-HR target zone
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Meanwhile, from a longer-term swing trading perspective…
More to come…
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