FX:EURJPY   Euro / Japanese Yen
We have a potential strong bounce from the structural point on EURJPY .
Over the last few sessions, we have seen price printing lower lows without fully breaking lower, this scenario presents to us a high probability trading opportunity.
We have a structure at 129.13 which has been tested this morning. If price continue to rise and close above the 129.68 1WCLOSE we can expect to see a nice rally towards 130.50, and 131.25 this week.
Alternatively, a sharp decline below 129.13 will invalidate the long setup. We will go short below 129.13 for a target of 128.71.
Happy Trading.
Trade active
Comment: Price encountered strong sellers at 129.57. If we manage to hold this area, more upward momentum is expected. Alternatively, we will close the long position and initiate a short below 129.45
Comment: In this type of scenario, we have Strong Sellers at 129.57, the 1WCLOSE is also close by at 129.68. We have a nice cushion of 40 pips. Price will decide if alternative scenario will occur. We will close any long and take profit below 129.54
Trade closed manually: Sellers wins the battle at 129.57. We have closed our long at 129.54 +34 Pips.
Comment: follow the Short trade here...
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