EURJPY newly broken resistance line on the Daily chart with a short retracement then failed to break the new support line.
The price was then rejected at the newly formed support.
The circled area made it a perfect opportunity to enter the trade, but a smaller retracement after the initial breakout is common which could present a new opportunity to enter with a buy position.
Reasonably big SL to give the price room to breath before we see a heavy increase of bullish power towards the pair.
The price was then rejected at the newly formed support.
The circled area made it a perfect opportunity to enter the trade, but a smaller retracement after the initial breakout is common which could present a new opportunity to enter with a buy position.
Reasonably big SL to give the price room to breath before we see a heavy increase of bullish power towards the pair.
