There is an upcoming trade in the EURJPY pair, here is the methodology of this trade:
The weekly chart is showing a weak bump up with the MACD in divergence.
On the daily chart, is a bearish pin bar
On the 4 hour, we have a clean double top with a MACDBB short signal.
- This trade would be a 1 target trade.
- Entry would be a close below 1.56427
- Stop above 1.57931
- Target 1.54558
Trade is canceled if current price closes above 1.57931