Although I am looking to sell the EURJPY, I will wait for a northward retracement before looking for a sell trading opportunity. A first attention will be on what price action does around 131.220 along side what happens around the descending trendline (red) on the H4 time frame from the high of April 26, 2018, which is in play as resistance.
I may be wrong. Trade safe and prosper.
KP
I may be wrong. Trade safe and prosper.
KP
DislikedI will be tracking the EURJPY for sell trading opportunity this week. On the weekly time frame, price action is operating in an ascending channel (black). Since mid-February 2018, price action has been operating below the midline of the channel (blue). In the last two weeks of April 2018, the market consolidated around a horizontal resistance. Last week, bears pulled southward of the consolidation with a relatively big bearish candlestick which temporarily breached the channel support until bulls intervened. The location of the most recent price...Ignored
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