EURJPY has exhausted its bullish run by tapping into a strong daily, h4 resistance level. From there, the market has started its bearish move and has rejected the region. Now the price action is printing the bearish engulfing and pinbar candles which can further plummet the pair. 

The ascending trendline is on the verge of breaking out for sells and has the capacity to breakout sell and then validate the trendline breakout.

There is no retracement indication in this setup as of now.

EMA 50 is bullish and we can see this as a profit target area for our short positions.

RSI is at 61. It needs to dwell into the over bought region from where it can form a divergence or simply tap the over bought region for us to sell.

Lets sell EURJPY

Mar 31 2023

Stop Loss -0.53%

Holding time 3d18hr

144.676

Entry price

145.437

Stop loss price