JPY ready to fight EUR back? - Ichimoku EUR/JPY sell setup
While this pair has been moving sideways we ended the week with a bearish kumo and a bearish TK cross. I am looking for a move back down and out of the kumo to look to take a sell here. My longer term take profit level will only be valid if we can break the price structure I've drawn out in horizontal lines on the charts. I'll also be take partial profit at those levels to decrease my risk as this setup develops. If we fail to break that price structure support or end up going back up into cloud, this setup may become invalidated.
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