One of my best trades for last month was EURJPY long two weeks ago. Upon exiting that trade, I noticed that the pair was trading within an ascending chennel on the H4 chart. The projected top is around 140.60.
Yesterday's Daily candle closed as a bearish pin off the 78.6 Fib level, signifying that price may be heading towards the bottom part of the channel at 137.00. The H4 has also a bearish engulfing candle. We may have a great swing short opportunity here if price travels towards 137.00
Yesterday's Daily candle closed as a bearish pin off the 78.6 Fib level, signifying that price may be heading towards the bottom part of the channel at 137.00. The H4 has also a bearish engulfing candle. We may have a great swing short opportunity here if price travels towards 137.00