EURJPY went for one more leg up, as expected, completing a wave iv of a further correction.
The fact that it broke the previous top, is sufficient for the structure to be finally completed, and the pair ready for the big downward move, that would take EURJPY to retest the lower weekly trend line in the 119 area, for an excellent short opportunity with a fantastic R/R ratio. A trade not to be missed.
On the 60min time frame, the pair is breaking a minor correction to the upside, making it a perfect opportunity for the sell, as it happened.
Please check our updates both on the higher and lower timeframes, and don’t forget to follow us, if you feel that our analyses and views may be a useful complement to your trading strategies.
Remember that you can double check the bigger structures that are at play are on higher timeframes, also by scrolling around the charts in the lower timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential losses you might need to accept before finding a good trade.
Thank you for viewing.
The fact that it broke the previous top, is sufficient for the structure to be finally completed, and the pair ready for the big downward move, that would take EURJPY to retest the lower weekly trend line in the 119 area, for an excellent short opportunity with a fantastic R/R ratio. A trade not to be missed.
On the 60min time frame, the pair is breaking a minor correction to the upside, making it a perfect opportunity for the sell, as it happened.
Please check our updates both on the higher and lower timeframes, and don’t forget to follow us, if you feel that our analyses and views may be a useful complement to your trading strategies.
Remember that you can double check the bigger structures that are at play are on higher timeframes, also by scrolling around the charts in the lower timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential losses you might need to accept before finding a good trade.
Thank you for viewing.