EURJPY: Very Risky Setup

[TradingPuzzles]

EURJPY: Very Risky Setup

EURJPY had a strong upward push over the weekend created by the Japanese Election result.

The pair now looks overbought considering it gained almost 320 pips in a single day. It is possible that EURJPY could face a correction soon.

If the price fails to hold current levels, we could see a pullback towards 175.00, followed by 174.10, and possibly a deeper drop towards 173.30, the main support area.

The structure suggests downside potential in the short term; however, caution is required.

Key Targets:
175.00
174.10
173.30

You may find more details in the chart!
Thank you and Good Luck!

[m_c_jacob]

Nice, fill the gap...