After a great bull run, EURJPY has consolidated and retraced back to between the FIb 23-38% levels, and appears to have found support at the previous SR level of 121, where a Bullish Engulfing signal has formed, breaking the 4hr sideways trend line. This is also the 50EMA.
Stoch has crossed up above the 20 level, suggesting we can now go long. Although I think there could be some retest of the sideways trend line, I'm going to enter on a break of the engulfing bar.
Target 125.
Stoch has crossed up above the 20 level, suggesting we can now go long. Although I think there could be some retest of the sideways trend line, I'm going to enter on a break of the engulfing bar.
Target 125.
Trade closed manually
Closed out all positions prior to the weekend and the inauguration of President Trump.
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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.