My Current Active Open Trades: EURCHF, CHFJPY, EURRUB, FTS, TRP, REMX, XHB, FXo EURJPY, FXo EURPLN
EURJPY – Deeper Retracement Expected Before Possible Continuation (Daily chart)
The EURJPY has been trading within a well-established bull-trend since May this year.
ST we’ve seen a failed breakout of the ST corrective structure which then was immediately followed by 2 days of strong selling.
This to me suggests that the ST structure might fail to hold and I think we’re possibly looking at a deeper retracement into MT support around 130.60 where likely a fresh group of bulls will be waiting to enter the arena.
In order to advance further north, bulls will first have to clear 134.40 to open up for potential …... Keep reading