On Daily chart I found demand zone at 1.06608 - 1.07347. There are two thinks that makes this zone very interesting:
1) Good profit zone: there is no opposite supply until 1.17500 - 1.18581
2) Bear trap: at point A we have important pivot low. Breaking this point will attract many people to sell.
After aggressive bounce off the demand zone price rides deeply into supply zone at 122.575 - 13.378. At this level we have low risk high reward opportunity to sell. I set initial target just before last pivot low, beacuse there can be some demand left inside zone at 118.455 - 120.172.
EURJPY is trapped between supply and demand zones on high timeframe. Supply zone seems to be stronger beacuse of long wicks near 140.00 (wicks are made by buyers-sellers imbalance in this area) and pattern type - Rally-Base-Drop.
There are two reasons for qualify this area as high probality opportunity:
1) Gap after RBD pattern (A)
2) Very strong return move - novice traders are buying into supply zone and there is great risk-reward ratio (no basing below).
