EURJPY has been on a downtrend and is near completion of a bearish cypher. Upon confirmation of the bearish bias, I will go short. The take profit target is set at the 61.8 Fibonacci retracement level of the leg CD. Stop loss has the same number of pips as TP1. Tentative details are as follows:
Trade Setup: Possible Bearish Cypher
Price Entry 128.674
SL 129.454 | SL pips 78.0
TP2 127.413 | TP2 pips 126.1
RRR2 1.62
Trade Setup: Possible Bearish Cypher
Price Entry 128.674
SL 129.454 | SL pips 78.0
TP2 127.413 | TP2 pips 126.1
RRR2 1.62