156,66. EUR JPY is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR JPY. The price should find a resistance below 157,20. The downtrend should continue to gather momentum. The target is expected at 155,00 (150 pips).
=> We could take a short position at 156,80. We will put the stop loss above 157,30 (-50 pips). The targets are 155,60 (+120 pips) 155,00 (+180 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
157,00 - 157,20 - 157,70
155,70 - 155,00