Today, I am attempting to go long on EURJPY, placing my stop loss at 180.00 and my take profit at 180.93. On the M15 timeframe, the pair is currently holding at a demand zone that also coincides with the 200-period moving average (MA200).
The buy position I opened on EURJPY hit my stop loss, resulting in a loss of $2.41. I believe there is a possibility EURJPY will drop further today, as there are several bearish candles to the left that fell rapidly, successfully breaking below the MA200.