I am sticking with EUR/JPY tonight with a SELL order around 113.50-113.70 and TP 112.70-112.80 and SL 114.10-114.20.
There looks like there is a steep correction taking place and the break of 114.00 is what seals the deal for a move lower. The 4 hour chart shows the 100EMA being breached as well as the trend line support around 113.50. Next support is around 112.30-112.50. Hourly also shows a break below 100EMA and now 114.00 is pivotal resistance.
The shorter time frames look range bound but the sentiment seems bearish with the RSI rising but the price well below the 100EMA and resistance so far away in the 114.00 zone. Buying interest feels muted.
P/L RESULTS = +70 PIPS
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