EUR/JPY (1H) chart, here’s what can be interpreted based on my annotations and price action:
Support level (green zone): around 178.00 – 178.20
Current price: 177.88
Breakdown below cloud: already happened previously, price retested resistance (support turned resistance) and dropped again.
My also drawn two target points below — one short-term and one deeper move.
---
🎯 Target Analysis
From my markings and price structure:
First target (short-term): around 176.40 – 176.50
→ This aligns with my first green arrow and matches a previous minor swing low.
Second target (main target): around 175.20 – 175.30
→ This is the lower arrow, which aligns with the bottom of my previous structure (major support zone).
---
📊 Trade Idea Summary
If my looking at a short setup (since price rejected the resistance zone):
Sell Entry: below 177.70 (confirmation of rejection)
Target 1: 176.40
Target 2: 175.20
Stop-loss: above 178.20 – 178.30 (just above resistance zone)
---
⚖ Risk/Reward (approximate)
If entering at 177.70:
SL: 178.30 (≈ 60 pips risk)
TP1: 176.40 (≈ 130 pips reward)
TP2: 175.20 (≈ 250 pips reward)
➡ R:R = 1:2 to 1:4
---
✅ Conclusion:
My first target is 176.40, and my main target is 175.20.
This setup looks valid if price stays below the 178.00 resistance and cloud confirms bearish momentum.
Support level (green zone): around 178.00 – 178.20
Current price: 177.88
Breakdown below cloud: already happened previously, price retested resistance (support turned resistance) and dropped again.
My also drawn two target points below — one short-term and one deeper move.
---
🎯 Target Analysis
From my markings and price structure:
First target (short-term): around 176.40 – 176.50
→ This aligns with my first green arrow and matches a previous minor swing low.
Second target (main target): around 175.20 – 175.30
→ This is the lower arrow, which aligns with the bottom of my previous structure (major support zone).
---
📊 Trade Idea Summary
If my looking at a short setup (since price rejected the resistance zone):
Sell Entry: below 177.70 (confirmation of rejection)
Target 1: 176.40
Target 2: 175.20
Stop-loss: above 178.20 – 178.30 (just above resistance zone)
---
⚖ Risk/Reward (approximate)
If entering at 177.70:
SL: 178.30 (≈ 60 pips risk)
TP1: 176.40 (≈ 130 pips reward)
TP2: 175.20 (≈ 250 pips reward)
➡ R:R = 1:2 to 1:4
---
✅ Conclusion:
My first target is 176.40, and my main target is 175.20.
This setup looks valid if price stays below the 178.00 resistance and cloud confirms bearish momentum.
Trade active
active active Trade closed: target reached
target done 
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.