I've been waiting for a short on EURJPY for a long time and believe it is happening now. Descending parallel channel + rejection = nice short. XXXJPY pairs are all going to drop soon which adds to the multiple confluence. Related ideas below. Although already in the trade, it could pull back to entry price again, providing another opportunity.
Trade active
Note
Accidently added to comments section but it's here now too.Daily View:
Weekly View:
Note
TP extended to another monthly level due to current market movement. RR = 6.64Trade closed: target reached
Trade closed at the original TP. +4.12 RR
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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.