Chris Capre’s current live trades: CADCHF, XAUCHF, EURGBP, BIR
NOTE: Check out this false break setup for +350 pips (+5R)
EURJPY – Corrective Price Action Above Unclean LT Key S/R Zone (Daily chart)
After forming a double bottom around 129.40 bulls stepped on the gas and pushed price through the key resistance zone which now should act as support.
We can see the price action has formed a small corrective structure above this S/R zone, indicating that there’s little counter-trend order flow atm.
This makes me believe that there’s potential we can see another bullish impulsive move to the upside with the first target likely being the resistance @ 134.30 and if that resistance fails, 136.30 would be next in …... Keep reading