On our EUR/JPY chart, I am expecting the breakdown of the higher time frame structure to persist, resulting in an overall reversal of price. Last week, the euro index weakened after being in an uptrend, while the Japanese yen has been performing well for several weeks. This could create an opportunity for a short trade setup for this currency pair. I will be closely monitoring the areas of supply to determine if there is any significant reaction. If there is, we will take short positions, aiming for our recently formed swing low.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading
