Search ForexCrunch

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

15-min chart, MACD turning bearish

4-HR target zone

Meanwhile, from a longer-term swing trading perspective…

More to come…