FX Market Commentary: EURJPY Higher After Inside Bar | Apr. 8th

Following suit on punishing the JPY as of late, the Euro has gained 20 of the last 24hrs vs. the JPY, adding over 210 pips since the market open this week. You can see the inside bar (only selling bar in last 36hrs), which formed a base at the former yearly highs, confirming the former highs as a role reversal level.

This trend is quite strong as you will notice its ability to float above the 20ema on the 4hr chart so easily, all suggesting of heavy consistent buying.  Be that as it may, we don’t want to chase it, so look for pullbacks towards the key levels at 128.36 and 127.71 (former yearly highs) to get long, targeting 130.51, and 134.45 which are the June 05′ lows and Jan 10′ highs.

how to trade inside bar price action eurjpy 2ndskiesforex.com

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Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Gabriel

    Hello, Chris.

    I’m noticing that you’re now cropping your chart images so that the timeframe can’t be seen in the upper left corner or deduced from the timescale at the bottom.

    Is this on purpose so as to highlight the fractal nature of the markets and the ubiquity of the price action patterns repeating themselves on all timeframes, small to large?

    Just curious.


    • Ha – no conspiracies here Gabriel – FB has changed things in terms of promoting posts – kind of a pain in my $#($##)! if you ask me.