If you have been following some of my posts, you would have notice I often look at a combination of stochastic and RSI levels to time entries.Let's look at the EUR/JPY as a case study. (EUR/JPY 4H Chart: Oct-Dec 2013)Uptrend, S20-R40:We start with Oct-Dec price action in the EUR/JPY. Notice that after the 4H RSI tagged 70, the market entered an uptrend. The combination of Stochastic at 20 and RSI at 40 marked an end to a bearish correction.Of course, it can be seen that the market does not "NEED" this signal to continue a rally. Not that is not the point. The point is if this combination DOES show up, it pays to be attentive. When the Trend Changes:Another thing is that trends change, and when they do the the stochastic and RSI combination will fail. Sometimes, you will get a false signal, but other times like in December, the break of the previous trend was fast enough that the RSI does not stay around 40, but instead goes down to 30. (EUR/JPY 4H chart)S80-R60:After the RSI dipped to 30, the EUR/JPY then turned bearish to start the new year. We then observed S80-R60 combinations corresponding to some short-term tops that occurred after a bullish correction, or consolidation. False Signal:The downtrend changed, and initially gave a false signal. It's important to acknowledge the existence of these so you know you the risk of following this Stoch-RSI combination signal.In February, we had the an uptrend, and we didn't really see the S20-R40 combination. Instead the Stochastic found support above 20 and the RSI barely challenged 40. Consolidation:This combination can even work during consolidations, which is what the EUR/JPY has been in the last 2-3 weeks. It works as a guide for entry, but whether a trade works will also depend on your exit. If you believe the market is consolidating, don't expect the swing to pass a previous major resistance/support. S80-R60 at Resistance:Last week, we saw the EUR/JPY show some bearish momentum when it broke below a rising support and the 4h RSI dipped to 30. We ended the week with the Stochastic around 80 and RSI around back to 60. (S80-R60). Of course the resistance is the main factor here. So we should look for price signals to reinforce the oscillator combination. Target:Now, with the stochastic at 20, and RSI near 40, in the mode of consolidation, it might be prudent to at least take some profit by scaling out in case a bearish trend does not develop.If there is a break below 138.65 however, the market might develop more bearish outlook.I encourage you monitor the S20-R40 and S80-R60 combination with a larger sample size in instruments and time-frames. Get a feel of it, it can help your timing.