NileshChavan

More downside possible

Short
OANDA:EURJPY   Euro / Japanese Yen
Reasons for trade-
1: Risk Reward 1:3 and 1:5
2. Price broke major consolidation level of 130.60 after 8 days and now returning towards that level
3.Price has created lower high and lower low on 4 hour chart which is confirming downtrend for upcoming days
4.Price closed below major daily support of 131.700
5.Prerequisite for trade is bearish candlestick pattern near trigger level