Fundamentals aside, technically EURJPY shows good signs of a quick short trade. Considering the entry is quite some pips away from Friday's close, any upside gaps should be safe for the entry.
Watch out for 148 zone for any patterns as it forms a short term .
Anyway, great analysis, thank you! I caught it in the right time and I'm earning a lot of pips :D
With flags, price always bounces from 127% back to 100% and then drops down to 161.8%. But this isn't the rule all the time, hence the concept of initiating 2 trades. Refer to this EURUSD chart I published long time back where you can see how price reversed from 127% (https://www.tradingview.com/v/SO1qzpK0/)
Considering the market volatility today, its hard to comment. I exited both my positions a while back and have been scalping the moves on USDJPY, counter trend, targeting the bounce from 127% back to 100% levels.
For this week, there was EURJPY and CADJPY (but didn't have time to publish that chart).