124,54. EUR JPY broke 125,50 support. EUR JPY is in a consolidation after the last bearish movement. The volatility is low. 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 price should find a support above 124,10 (44 pips). If the support is broken then the target will be 120,00 (454 pips).
=> We could take a short position at 124,55. We will put the stop loss above 125,60 (-105 pips). The targets are 122,90 (+165 pips, risk/reward 1:1.6), 120,00 (+455 pips, risk/reward 1:4.3) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
125,50 - 126,00
124,10 - 122,90