EUR/JPY: Good levels to add to the short position

23.05.2018 / 13:24

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If you follow our FX forecast you probably know, that last week we opened short position on EUR/JPY with stop of 131.65

From then on the price formed a trend-confirming Head and Shoulders and today we have a breakaway of the neck line of the formation. Possibility to add to the short exposure. For a more precise entry we wait for a test of the neck line and place a conservative SL at 131.51

Alternative scenario: If the price goes and closes above the neck line, this scenario will be cancelled and we can close the first position.

Trader Aleksandar Kumanov

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EUR/JPY: Good levels to add to the short position

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