Hello traders.
I see that EURJPY is consolidating.
Recently it hit multiyear time highs and created a supply zone. I see 3 major demand zones but there are other which might trigger buy, too.
The point is that as a pair can give nice opportunities either ways. I see a daily bullish trendline which is still valid and a bearish trendline of 4H TF.
These two have created a triangle which will break eventually either way.
Regardless of the ascendign trendline I believe in the strength of long entries at every weekly demand zone.
However at first, the gey area of support if it is violated or if the bearish trendline is being touched again, it may give short entries following the LH formation.
Keep an eye for high impact news for both euro & yen. Each one of the aformentioned scenarios can be initiated through the news.
GL!
I see that EURJPY is consolidating.
Recently it hit multiyear time highs and created a supply zone. I see 3 major demand zones but there are other which might trigger buy, too.
The point is that as a pair can give nice opportunities either ways. I see a daily bullish trendline which is still valid and a bearish trendline of 4H TF.
These two have created a triangle which will break eventually either way.
Regardless of the ascendign trendline I believe in the strength of long entries at every weekly demand zone.
However at first, the gey area of support if it is violated or if the bearish trendline is being touched again, it may give short entries following the LH formation.
Keep an eye for high impact news for both euro & yen. Each one of the aformentioned scenarios can be initiated through the news.
GL!
Trade active
Trade closed: target reached:
+300 pips