I usually short term trade or swing trade as i am not keen on fees, this means I may sometimes trade against the long term market movement, aka trading a retracement, However, I always look at the long term analysis and try to get out before market continues on its path. Now on the daily/long-term view of eur/jpy, it does look like it has nearly completed downtrend.
If you trade long-term and have the patience, then I would say look into buying long position first at 125.030 region and it could go further down to 124-124.610 region if a candlestick forms a wick as they often do. Now remember chart positions vary so trading positions may be different on the platform you trade at, so would suggest setting an alert on positions stated here on tradingview, so if/when it triggers then you can go ahead and put in a trade on your chosen platform.
Please remember to look at indicators if you can read those as they would likely help you determine whether to get in at 125.030 region or wait for confirmed further downfall to 124.610 region. Please remember stop losses can be your friend, but also your enemy as market often forms wicks to kill off stop losses so set a stop loss but be generous with how much room you allow for this.
All comments and questions welcome, if curious about indicators I use then feel free to inquire.
If you trade long-term and have the patience, then I would say look into buying long position first at 125.030 region and it could go further down to 124-124.610 region if a candlestick forms a wick as they often do. Now remember chart positions vary so trading positions may be different on the platform you trade at, so would suggest setting an alert on positions stated here on tradingview, so if/when it triggers then you can go ahead and put in a trade on your chosen platform.
Please remember to look at indicators if you can read those as they would likely help you determine whether to get in at 125.030 region or wait for confirmed further downfall to 124.610 region. Please remember stop losses can be your friend, but also your enemy as market often forms wicks to kill off stop losses so set a stop loss but be generous with how much room you allow for this.
All comments and questions welcome, if curious about indicators I use then feel free to inquire.
