EUR/JPY Trading Analysis (19/09/2023)

The trend is descending. The currency pair is traded near the upper border of the descending price channel. The ascending wave structure is truncated. There is bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought state.
 

Trading idea:

Sell at the formation of the descending wave structure, where the A wave breaches the sloping channel of the uptrend truncated structure.

Stop-Loss: 158.00.

Target price levels: 157.17, 156.70.

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