The808Trader

EUR/JPY - Ichimoku Trade Setup

Long
FX:EURJPY   Euro / Japanese Yen
We had a long move sideways last week before finally break up and out of the kumo. There are two ways I can look to enter a buy here. I've set this entry at a break above previous resistance. As an alternative I can wait for a good support candle at tenken sen or kijun sen for an entry. As long as we can break above the entry I've shown above we should be able to hold support and climb higher. If we fail to break higher or hold support at tenken sen or kijun this setup may become invalidated.

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