EURJPY has been moving in a down trend for serval day. Current price action suggests that the pair might be in for a short term bullish correction.
The patterns we spotted which are in line with our short term up trend basis include an inverse head and shoulders pattern in Daily and H4 time frames
with the H4 being the more clearer. We have also spotted a trendline breakout, close and retest followed by a change in market structure by the breakout,
close and retest of our key level. The target for this particular trade is around the 132.6**The risk reward for the trade currently stands at around 6.81 to 1.
We plan to hold this particular trade until out target is reach or close manually as per the rules of our trading plan.
The patterns we spotted which are in line with our short term up trend basis include an inverse head and shoulders pattern in Daily and H4 time frames
with the H4 being the more clearer. We have also spotted a trendline breakout, close and retest followed by a change in market structure by the breakout,
close and retest of our key level. The target for this particular trade is around the 132.6**The risk reward for the trade currently stands at around 6.81 to 1.
We plan to hold this particular trade until out target is reach or close manually as per the rules of our trading plan.
Trade active:
We have entered at the retest of our key level. We are expecting price to retrace back to this key level for another entry opportunity before the continuation to the upside.
Trade closed: target reached