124,38. EUR JPY broke 125,50 support. EUR JPY is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR JPY. The downtrend should continue to gather momentum. The price should find a resistance below 125,00 (62 pips).
=> We could take a short position at 124,40. We will put the stop loss above 125,10 (-70 pips). The targets are 122,50 (+190 pips, risk/reward 1:2.7), 122,00 (+240 pips, risk/reward 1:3.4) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
125,00 - 125,50
124,10 - 122,50