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Simple_Renko

EURJPY Long - A little aggressive, but worth a shot!

Long
Euro / Japanese Yen (OANDA:EURJPY)  
Simple_Renko Updated   
OANDA:EURJPY   Euro / Japanese Yen
Support and Resistance Supply and Demand Trend Lines
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supportandresistance supplyanddemand trendline
See callout bubbles. The higher time frame charts indicate that the EUR against the JPY may have some room run still before major sellers step into the market. We'll need a bit of EUR weakness and JPY strength to get our entry, but I believe that there may still be buyers within the highlighted zone looking to push prices higher.

Always measure your risk and be okay with being wrong ; ) Wait patiently and get the price that you want. Use the market. Don't let the market use you.
Comment:
Entry moved down to 133.65 with stop at 133.01. With the big news out of EUR, I want to leave a little bit more room for price to stretch out. With this entry, we are testing the current market's extremes, asking for price to be quite over-extended by the time it meets our entry. This way, we are taking the least amount of risk with the most potential or reward ; )

Always measure your risk and be okay with being wrong ; ) Wait patiently and get the price that you want. Use the market. Don't let the market use you.
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