160,92. EUR JPY is in an downtrend directed by 1H exponential moving averages. EUR JPY is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 161,00. The downtrend should continue to gather momentum.
=> We could take a short position at 160,90. We will put the stop loss above 161,35 (-45 pips). The targets are 159,70 (+120 pips) 158,60 (+230 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
161,20 - 161,90
159,70 - 158,60