Euro / Japanese YenShort
Further downside is expected
Price broke downside of the upwards channel.
Head and shoulder formation beautifully sits on the fib extension levels. As per H&S measured move I expect to reach price off 126.33
Entry would be at the test of H&S the neck line and stop would be 15pip above right shoulder. Therefore:
Entry 130.40
Stop loss: 131.20
Take Profit: 126.33
RR: 1.74
Head and shoulder formation beautifully sits on the fib extension levels. As per H&S measured move I expect to reach price off 126.33
Entry would be at the test of H&S the neck line and stop would be 15pip above right shoulder. Therefore:
Entry 130.40
Stop loss: 131.20
Take Profit: 126.33
RR: 1.74
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.