EURJPY
did not break the lower trend line on the daily timeframe and went for a deeper correction. Said correction is coming to an end right about now, and breaking the ending diagonal it has been forming in the last sessions of this week. After our previous short attempt, that ended up in a break even trade, we believe this new short opportunity is excellent and has an optimum R/R ratio. Short on break confirmation, stop loss above the ending diagonal and a final target price in the 121 area.
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Remember that you can double check the bigger structures that are at play are on higher timeframes, also by scrolling around the charts in the lower timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential losses you might need to accept before finding a good trade.
Thank you for viewing.
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4hr time frame (remember that you can double check the bigger structures that are at play are on higher timeframes, also by scrolling around the charts in the lower timeframes (right and left, up and down):
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