EURJPY has been on a bearish channel since the past two weeks and it seems channel resistance is still very much strong enough for the formation of another lower high and a lower low...We can also get a horizontal resistance around the 128.000 zone. On the 4hr timeframe, you can see the bearish engulfing candle just on the trend resistance line(channel resistant line). Price is currently on 127.800 which is a valid entry level to get on. SL for this trade should be a minimum of 70pips and TP should be a minimum of 140pips