We are about to take long position on 
EURJPY.
We believe, in fact, that the EURJPY is at the end of a longer consolidation following an impulse, and is ready to resume it's upwards movement. First target in 122.59 area. Stop loss below 118.295.
Risk reward on chart is referred to first target. A better risk reward is forecasted if the pair breaks the daily channel on the upside. Updates will follow, trade with care.
EURJPY.We believe, in fact, that the EURJPY is at the end of a longer consolidation following an impulse, and is ready to resume it's upwards movement. First target in 122.59 area. Stop loss below 118.295.
Risk reward on chart is referred to first target. A better risk reward is forecasted if the pair breaks the daily channel on the upside. Updates will follow, trade with care.
Note
We might have missed the entry, as pair bounced on daily support (+ the 0.618 Fib.). We are in from the daily channel bounce, in the 118.700 area. If you are not in, wait for a flag following an impulse on the 60min timeframe, and place your position there. Trade with care.Note
Or maybe not.Note
Trade active.Note
Stop Loss hit.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.