JLJ002500

EURJPY - Potential retest R or push through before correction

JLJ002500 Updated   
FX:EURJPY   Euro / Japanese Yen
The charts below indicate EURJPY could be prime for a pullback or correction. I imagine the bulk of the open trades are also short. I'm going against the flow on a more short term trade. I'm trading EURJPY to at least retest R zone if not push through before a retrace.

I'm long @ 135.65; original SL was at 134.90, but I adjusted it to 135.11 to allow me to add to the position if the right situation occurs. TP is tentatively 136.5, however probably will be adjusted. I expect to start taking profits around 136.17.



1M: Overbought. Price at a resistance zone.

1W: Week of 1/8 candle, pinbar indicates bears inability to gain control. However, bulls were unable to take any momentum.

1D: Appears more as indecision than consolidation.


1H:
Trade active:
My adjusted SL was triggered. Initial trade closed for a loss. Based on the pinbar on 4H chart (below), entered long again at 135.45.

Trade closed: target reached:
Was surprise this ended up going my direction. TP reached @ 136.15
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