EURJPY Technical Analysis February 18/2019
EURJPY SELL/SHORT Trade Setup : EURJPY is forming a bearish Head and Shoulders market breakout pattern. Price at the moment seems to be respecting the 50 Moving Average which can signal for more downside. Traders should watch for a break below the green SELL breakout trend line. A good break below this level can send EURJPY lower and possibly extend below the February 15/2019 lows. If looking to SELL EURJPY look to SELL on a good break below the green SELL entry trend line with Stop Loss at the high of the Head of the H&S market pattern and watching for price to hit the target levels as shown in the chart below. Only time will tell what the pair will do but as for now traders should continue to watch the possible breakout lower and continue to watch if the bearish H&S pattern triggers entry. Trade what you see and squeeze the trigger if and when you see EURJPY start to move lower. Trade safe.
EURJPY 15 Minute Chart 2.18.2019 (SELL on break below 124.99 with stops at 125.29)
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on Twitter for updates and questions> @AidanFX or chat me on Skype > EWF Aidan Chan
*** Always use proper risk/money management according to your account size ***
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