**EUR/JPY**
My favorite setup for the week. Since it's still sunday, I won't be looking to execute a new position yet until tomorrow at least. We've favored a bullish move this week for EJ, with a double bottom and multiple reversal 4-hr candles that have presented themselves. Our target is pretty simple: the gap form may 5th that still hasn't been filled. For an entry, we favor a retest of the broken trend-line (blue) where we can look to enter at some point later in the trading session. Waiting for a test in and around the zone of liquidity (light-blue) will allow us to not only get the best entry, but also use the tightest stop-loss possible which needs to be around 122.
For this trade, we will remain patient.
**Entry: 122.6 ("buy zone" labeled in orange)
Target: 124.3 (+170 pips)
SL: Below 122.05 (-54 pips)**
My favorite setup for the week. Since it's still sunday, I won't be looking to execute a new position yet until tomorrow at least. We've favored a bullish move this week for EJ, with a double bottom and multiple reversal 4-hr candles that have presented themselves. Our target is pretty simple: the gap form may 5th that still hasn't been filled. For an entry, we favor a retest of the broken trend-line (blue) where we can look to enter at some point later in the trading session. Waiting for a test in and around the zone of liquidity (light-blue) will allow us to not only get the best entry, but also use the tightest stop-loss possible which needs to be around 122.
For this trade, we will remain patient.
**Entry: 122.6 ("buy zone" labeled in orange)
Target: 124.3 (+170 pips)
SL: Below 122.05 (-54 pips)**