יורו / יין יפנילונג
EURJPY LONG SETUP
Over the weekend, I talked about EURJPY looking so ready to break out of the WEDGE on the 4H chart which is going to be the trigger to take out the horizontal resistance zone from 2017 @ 127.60, that's what we saw price does this week thus far.
Price is now reversing again to retest the horizontal resistance zone for the second time, I believe a few retests will actually worth it cause that's a resistance zone from 2019.. so 2/3 retest holding will actually confirm the breakout not to be a fake-out.
I will be looking out for price action in the zone as price is approaching the zone once again, a retest holding will signal a BUY setup, with stop loss below structure and the TP or Target will be @ 130.00 which is the resistance ray of the 12years DOWNTREND LINE extending from 2008 high which I mentioned last week in my analysis.
While a rotation lower into the WEDGE PATTERN will negate the UPTREND continuation.
Price is now reversing again to retest the horizontal resistance zone for the second time, I believe a few retests will actually worth it cause that's a resistance zone from 2019.. so 2/3 retest holding will actually confirm the breakout not to be a fake-out.
I will be looking out for price action in the zone as price is approaching the zone once again, a retest holding will signal a BUY setup, with stop loss below structure and the TP or Target will be @ 130.00 which is the resistance ray of the 12years DOWNTREND LINE extending from 2008 high which I mentioned last week in my analysis.
While a rotation lower into the WEDGE PATTERN will negate the UPTREND continuation.
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