EURJPY Watch for a Pullback to the Reistance Level

Price has broken below the sliding parallel, of the downsloping median line, having acted as strong support previously. For the upcoming week, we should watch for a pullback back to the parallel which most likely is going to act as resistance this time. Any sell setup completion at the parallel will be a very nice sell opportunity. A nice level to aim is the sliding parallel at around 1.11900. From there we may watch for price action before buying the market.

Overall I wait for EURJPY to be bullish, but taking short trades in both directions, when everything is set up is absolutely fine.

Kommentera:

Price reached the sliding parallel and we may start watching for a sell setup completion

Kommentera:

Price reached the expected level. For those who entered with a sell setup at the resistance, it's time to exit the trade.