EURJPY Good day traders. After the move down through NY, we have settled on a demand OB below and 170 psychological level.
After the liquidation of the PDL, we see a shift in structure on the micro timeframes, possibly signalling a correction back to the upside. On the medium timeframe, price is presently contained within a sideways range.
If I see price makes another break to the upside on the micro timeframes + a break of the medium timeframe range high, the correction is confirmed and I will be looking at longing this market up to retracement levels / supply OBs above. There are imbalances to fill above as well.
EURJPY The ultimate target for bears will be the PDL. Possible reaction off that major level of price.
Intraday wise, you can attempt to wait for price to retrace to premium levels on the micro timeframes before shorting (riskier), or retrace to premium levels on the medium timeframes before shorting.
Price can do whatever it wants so just do your observation closely.
EURJPY just hit first tp with 8RR 🤣 I love this place Moved to breakeven S.L. on my second entry aiming a bit further but overall done for the day already, goodluck traders 🫡
EURJPY Slow ranging day during Frankfurt and London today.
As discussed, intraday bias is bearish. Took my shorts from the liquidation of Asian high earlier. Closed at 61.8% fib + 15m demand OB confluence. We are after all still internally bullish.
EURJPY Good day traders. After the move down through NY, we have settled on a demand OB below and 170 psychological level. 
