Nice short setup on Euro versus Japanese Yen on our trading view chart with the pair running up to resistance levels around 123 and at the same time trading volumes are heading south just as the overall market goes risk off again. Using this as the perfect opportunity to position for more risk off headlines from China trade talks after the remarkable bounce in tone last week on the Mexico trade deal - which no one cared about before!
Keeping it simple with this trade, tight stop loss just above resistance levels and aiming for a move back down to 21 day moving average around 122.4 and further break towards 121.
Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Metatrader and most broker platforms.
Good luck trading
from the Team at forexTrdr
find us on instagram, twitter and Alexa flash briefings