WaveAnalysis

EURJPY Short Trade Setup

Short
OANDA:EURJPY   Euro / Japanese Yen
The red B probably is the end of the monthly expanding flat. Then we got a reversal impulse, and a running flat. The last top can be the end of the 2nd wave, and we may have a reversal structure. That being said, a correction and more upside is still possible. That's why I'm waiting for a small trade setup to place a pending order. I'll move SL to BE at the new low.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.