Looking to SELL EURJPY in SELL AREA and to close position in TP AREAS (+30 PIPS)
- Execute on price action, reversal candle/ signs of exhaustion
- Apply risk management according to your trading style
Price has reached a key level where it was rejected from previously, I am expecting price to close below this level and fall to the next level of support
Both have been marked on the chart - its clearer to see on the daily
Good trade this. Price action pushed up to a major level with a bearish engulfing candle printed on the 4h chart. RSI also overbought position. We might see a double top but yes, it looks a good shorting opportunity.
Please have patience on this trade and there are plenty of pips.
Let me know your thoughts.
Trade safe and good luck.
EurJpy has been travelling comfortably in a descending channel. Price jut hit the bottom of the channel and formed a double bottom, further confirming a long opportunity.
ENJOY YOUR PROFITS, STOP LOSSES AND TAKE PROFITS ARE AVAILABLE...
EURJPY has taken a big hit this week, it has been dropping rapidly, however it has reached a major support zone and seems to be being held up due to the bounce it had when price hit the zone.
What we think will happen next depends on the next movement in price, if it breaks above the resistance zone marked on the chart then we will see some bullish movement to...
EURJPY has been travelling in an ascending channel ever since the large drop on all fx pairs, It recently broke out of the channel to the downside and has come back up to retest it.
We expect price to now drop to the -0.27 extension level after testing the descending trend line.