EURJPY - 5 Minute Chart +30

EURJPY 5 min Chart. +30

Down swing on the 5 minute chart broke the Asian session low, then retraced.

Price was below the 60SMA on 5 + 15 minute charts.

Measured fib from top to bottom of swing + projected 127 + 134 levels.

Fib swing + Asian low were grouped tightly together, so I figured good resistance place to enter, with stop above 38.3% fib.

Risk Reward was roughly 1.5 ish maybe bit more.