Wynloots14

EURJPY price action analysis

OANDA:EURJPY   Euro / Japanese Yen
56 0 3
Looking for a few trades on the EURJPY             pair. Firstly, we had a break of structure, with price breaking through the falling wedge resistance. Looking for 190 pips profit on that trade. Looks like I'm riding it through the weekend though...

We then have a nice bearish crab setup at key structure points which I'm looking to trade. I'll look for a good entry next week with a 3.3 R/R to TP2.

Given the nature of a falling wedge , I'll look for a reversal of this impulse to go long again. A falling wedge indicates the start of some bullish movement, so I'll look for a good 5.4 R/R for this long trade.

This is merely my opinion and is not shared as financial advise. Trade at your own risk.

Good luck!
Comment: TP hit, opened a short trade for phase 2 to TP2...
Comment: TP2 hit yesterday, Phase 3 is in play and looking for a good long gain.
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