EUR/JPY carving out an M Top pattern - SHORT from 160.76
EUR/JPY is in the process of possibly carving out an M-Top candlestick pattern at a level of historical resistance.
The neckline comes in at 160.74 which will be our entry.
We are looking for a 1:1 trade so our STOp is above the last high and our take profit comes in at 160.24 though this is below the 2090 EMA on H1 and its likely that if the trade does trigger then the 200 EMA may halt and BEARISH progress.
The trade will have to trigger within the next 15 H1 bars or the setup is nullified.
The neckline comes in at 160.74 which will be our entry.
We are looking for a 1:1 trade so our STOp is above the last high and our take profit comes in at 160.24 though this is below the 2090 EMA on H1 and its likely that if the trade does trigger then the 200 EMA may halt and BEARISH progress.
The trade will have to trigger within the next 15 H1 bars or the setup is nullified.