EURJPY holding below descending trendline resistance. With technical indicators showing room for further bearish momentum, a short term drop below our 1st resistance at 131.691 towards graphical swing low 1st support at 131.281 could be possible.
Trading Recommendation
Entry: 131.691
Reason for Entry:
38.20% Fibonacci retracement, descending trendline resistance
Take Profit: 131.281
Reason for Take Profit:
Graphical Swing Low Support
Stop Loss: 131.882
Reason for Stop Loss:
61.8% Fibonacci retracement, Graphical swing high resistance