On longer timeframe I am looking for shorts on Eur/Jpy but in nearest time I expect some kind of pullback up to MA20 and possibly up to trendline seen on dailychart.
For entry look for confirmation in priceaction. It may take couple of days into next week to see what price wants to do. 154.500 is a good place to enter. If price falls straight through support than wait with pulling a trigger. In this case area under lows can be a good place for long entry. But it price struggles to move lower it's your sign to go long.
For target aim for MA20 around 158.500 on dailychart and if price looks to hold here expect more upside, up to current highs around 163.00
Stop-loss under major lows.
For entry look for confirmation in priceaction. It may take couple of days into next week to see what price wants to do. 154.500 is a good place to enter. If price falls straight through support than wait with pulling a trigger. In this case area under lows can be a good place for long entry. But it price struggles to move lower it's your sign to go long.
For target aim for MA20 around 158.500 on dailychart and if price looks to hold here expect more upside, up to current highs around 163.00
Stop-loss under major lows.
Order cancelled
Not sure about longs anymore. Too high risk to enter, even if support is good and has been strong in past.Reason for siting on hands are strong yen and looking on monthly and weekly chart we can clearly see that sellers are very strong and I don't want to go against biggest player.
I will see what happens with yen pairs upcomings days. If support holds I maybe will take long position. As it is now, I prefer price to break support and wait for retest to take short side.
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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.