We have witnessed in the recent week a beautiful and impulsive range/wedge breakout of the EurJpy. It led directly to the first downtrend line on the topside.
Market rushed down in recent days back to the breakout point and stalled.
I am seeing we are in for a bullish continuation of this multiweek range breakout towards the big downtrend line at around 117.10.
I am long @ 114.25 with a tight 50 pip stop and looking for a move to 117.10
Market rushed down in recent days back to the breakout point and stalled.
I am seeing we are in for a bullish continuation of this multiweek range breakout towards the big downtrend line at around 117.10.
I am long @ 114.25 with a tight 50 pip stop and looking for a move to 117.10
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Moved my stop late fridays to breakeven. Still targeting 117 area in this position.
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Just closed this position @ 114.65 for a small profit. Not liking the movement and sentiment.