Ready to exit range on EURJPY?
Updated
Hello guys, here is a good setup on EURJPY.
This pair is ranging from the 17 October when we had that big spike to the upside, around the 121.300 region. We had multiple rejections (wicks, engulfing candles) on that zone, with the last week closing really strong to the downside. So it's three weeks that we are inside this range, can we break that support (120.300) this one?
As you can see we have a nice resistence inside the range around the 121.000 level, that align perfectly with 61,8% Fibo retracement from the top of the range and so from the last push.
I'd like to see finally a push to the 119.640 with a break and retest of our support.
Always wait for candelstick confermations.
SL 121.240
TP1 120.360
TP2 119.640
This pair is ranging from the 17 October when we had that big spike to the upside, around the 121.300 region. We had multiple rejections (wicks, engulfing candles) on that zone, with the last week closing really strong to the downside. So it's three weeks that we are inside this range, can we break that support (120.300) this one?
As you can see we have a nice resistence inside the range around the 121.000 level, that align perfectly with 61,8% Fibo retracement from the top of the range and so from the last push.
I'd like to see finally a push to the 119.640 with a break and retest of our support.
Always wait for candelstick confermations.
SL 121.240
TP1 120.360
TP2 119.640
Trade active
Trade closed manually
As we saw a little bit of movement on the Asian session, I exit the trade at around +6 pips on the reports regarding US easing on tariffs some against China. This was a good one, let's see how the price will react.
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