It’s been a month since the price in EURJPY started moving into a range – between 129.230 resistance and 127.620 support level. But even if with definitely have no clear trend direction, I truly believe we are sitting in front of a very nice sell opportunity here. Since my trading plan is to attack liquidity levels ( I am not a major bank :)), I am planning to shoot for that 127.620 support level. Below it, are sitting a ton of sell orders (stops) and most likely smart money going after them.
As for my sweet short entry I am focusing at the 128.500 level. Just watch how price left the level the last time it tested it as resistance. An instant rejection followed by a sharp drop. Now price is heading towards 128.500 level. If sellers make their presence known (rejection) I am selling EURJPY aiming for range’s support – 127.620.
As for my sweet short entry I am focusing at the 128.500 level. Just watch how price left the level the last time it tested it as resistance. An instant rejection followed by a sharp drop. Now price is heading towards 128.500 level. If sellers make their presence known (rejection) I am selling EURJPY aiming for range’s support – 127.620.
