EuroYen in Retracement
Euro Yen is a making a retracement following the recent bullish run from 26th May to 9th June 2022.
Price has moved below the short and longer term moving averages ( Which achieved a Dead Cross on 10 th June 2022)
Today we see price break the Tokyo Box , and presently is drifting lower.
Taking a conservative Fibonacci retracement of 50% , a short trade could be taken to 1.3980 . And further momentum could take the pair to 138.73.
Your stop would need to be above the Tokyo Box of 141.80.
The risk reward is 1+ .
Price has moved below the short and longer term moving averages ( Which achieved a Dead Cross on 10 th June 2022)
Today we see price break the Tokyo Box , and presently is drifting lower.
Taking a conservative Fibonacci retracement of 50% , a short trade could be taken to 1.3980 . And further momentum could take the pair to 138.73.
Your stop would need to be above the Tokyo Box of 141.80.
The risk reward is 1+ .
Note
Target hit 16th June.
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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.
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.