🔔 EURJPY LONG TRADE SET-UP
🔔 EURJPY
This is a similar trade set up to EURCHF; we have price reach into our IB level to balance out the market and take in order from buyers. Now that the IB is closed we see price rejecting the downside suggesting potential shift upwards from the market enticing investors. However, we have the 50% of our SC level which has not been satisfied yet so I would like to see price dip lower before we move upwards. Seeing as the retracement for this 300 pip downward impulse is long overdue and there are large amounts of Euro fundamental data releasing this week I won't be surprised to see this move play out. With a 30 pip stop loss and a potential 250+ pip reward, we have a 1:9 r/r.
This is a similar trade set up to EURCHF; we have price reach into our IB level to balance out the market and take in order from buyers. Now that the IB is closed we see price rejecting the downside suggesting potential shift upwards from the market enticing investors. However, we have the 50% of our SC level which has not been satisfied yet so I would like to see price dip lower before we move upwards. Seeing as the retracement for this 300 pip downward impulse is long overdue and there are large amounts of Euro fundamental data releasing this week I won't be surprised to see this move play out. With a 30 pip stop loss and a potential 250+ pip reward, we have a 1:9 r/r.
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