EURJPY - Exciting SELL opportunity with big potential! 🔻

As shown on the charts by multi-timeframe analysis, from weekly down to daily and hourly, we can establish a clear bearish bias for EURJPY.

Noteworthy observations:
- the liquidity pool on weekly timeframe is very obvious and price will eventually go for it, so I keep that in mind.
- untested hammer head on daily timeframe is also very obvious and it usually acts as a magnet for price.

Depending on how aggressive you want to be with this trade if it works out, entry could be a price action confirmation signal near the buy zone or a sell limit order.

I will closely observe the price action near the first target and make a decision whether to close my trade there or adjust my stop loss to the second target.
If I have a strong bias that price is ready to make a run on the liquidity pool, I may re-enter the trade after exiting.

Order cancelled:

No trade here for me today. I was looking for some bearish price action around the entry zone but did not get it. After the news, price went up in a straight line.

I will be keeping an eye on this pair as I believe the price will make a run on that weekly liquidity pool eventually.