Looking at Euro versus Japanese Yen and divergence forming to suggest we are looking at a move lower withing the channel then a break out higher over the coming trading sessions. As per our trading view chart we have higher highs forming on with lower highs on pricing. When this occurs it tends to point to a breakout higher in pricing over medium term but with a pull back first.
We are going to play the short down here within the range then look to get long to catch the breakout. We can play this with a tight stop loss should price break out earlier than the pattern would suggest and look to switch directions should that happen.
Comments and feedback are always appreciated from anyone in the trading community
Good luck trading
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