Hello traders.
EURJPY broke the bearish trendline and created a HL HH formation.
An ascending trendline has been formed which has been tested 2 times.
In fact, it might be retested with some kind of price action pretty soon.
Price can buy exactly from this level pushing close to the 148 area - supply zone.
For more conservative traders, it would be advisable for a buy limit at the grey area of support which is in confluence with the retest of
the broken bearish trendlien and the new bullish one.
Mesuring Fibo from the beginning of the recent trend and from the last SH,
price is approaching the 61.8% and 38.2% respectively.
EURJPY broke the bearish trendline and created a HL HH formation.
An ascending trendline has been formed which has been tested 2 times.
In fact, it might be retested with some kind of price action pretty soon.
Price can buy exactly from this level pushing close to the 148 area - supply zone.
For more conservative traders, it would be advisable for a buy limit at the grey area of support which is in confluence with the retest of
the broken bearish trendlien and the new bullish one.
Mesuring Fibo from the beginning of the recent trend and from the last SH,
price is approaching the 61.8% and 38.2% respectively.
Trade active:
TP1 hit +110 pips
Comment:
overall -42 pips