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EURJPY Bearish Butterfly and Trendline Breakout TP2 Reached

EURJPY Bearish Butterfly and Trendline Breakout

Description of the pattern: EURJPY completed a Bearish Butterfly Pattern. The pair is testing the zigzag trendline. Short opportunity at the breakout of the trendline.

Trade: Short

Time Frame: H1

Trade Period: Intraday / Scalping

Estimated completion time: 4-10 H1 Candle Sticks

The trend in the Timeframe: Bullish

The trend in the Daily Chart: Neutral

Trade Based On Bearish Butterfly and Trendline Breakout

The accuracy of the pattern: 87%

Recommended Lot Size: 0.10 at 10K

Trade: Short

The Area Of The Entry:  Estimated Breakout 125.040

Stop Loss: 125.300

Target 1: 124.800 / Reached

Target 2: 124.600 / Reached

Update: We book profit and move SL to entry. Potential Pullbacks towards 125.000 can be used as a selling opportunity.

Extended Target: 124.210  and 123.830

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

EURJPY: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities läsa. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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