Multiple scenario's drawn out for EURJPY. I myself haven't traded EURJPY a lot, but the orderblocks seem consistently promising at the moment. It could be that the monthly support is going to cause a stronger bounce. The strength of the bounce shouldn't matter. Reconsider your options at every 'crossing' of the arrows representing potential orderblocks. I'm personally going for this green arrow entry as the previous bearish orderblock seems rather significant.
Good luck!
Good luck!
Note
I'm pretty certain it wasn't the first orderblock that hit that will bring price down again.I looked a bit closer and missed a very obvious orderblock which is right in the 70.5% retracement.
Going for: 115.8, before reversing back into trend continuation.
Have a look:
Note
Note to self: finetune monthly/weekly/daily s/r before posting idea. Could be this one is in fact 112.5 or 112.48 mid figure.Note
Confirmed is indeed 112.48.Note
EURJPY is in a good position to take out several stops, namely those that are hanging just above 118.400/420. I'd not go long based on this right now, but it's likely we'll see market reverse there.Good luck!
Note
Still waiting for bullish euro before looking for shorts @118.4+
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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.