**Hallo traders!** 🌟
Today, we're diving deep into the EURJPY hourly chart, where an intriguing AB=CD bearish harmonic pattern has caught our attention.
**Key Observations:**
1. The price is currently hovering below our short entry level (EL) at 158.378.
2. We've set a tight stop-loss (ST) at 158.577 to manage our risk.
**Profit Targets:**
- **Target 1:** The first profit-taking zone aligns with the 62% retracement of the AD leg, positioned at 157.464.
- **Target 2:** If the bearish momentum persists, we're eyeing the extended levels:
- 127% of AD at 156.379
- 162% of AD at 155.817
Happy trading and let's catch those pips! 📉📊
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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.