EURJPY: Where Previous Support Turns to Potential Resistance

After breaking down from a 2 month consolidation. The EURJPY is now returning to the level that at one point proved to be a significant level of support. After the violation we are now looking for this previous level of structure to potentially flip and act as resistance, offering a bearish trading opportunity with a very positive risk reward.

On the right of the chart are the 3 potential levels of profit taking that we discussed ranging from the conservative to the more aggressive.

My apologies for being absent, but between a rough start to the trading year and the launch of a new course, sharing on Trading View was a very low priority. Hopefully as things start to slow down towards the spring & summer, I can return to positing more consistently.

Either way i appreciate your continued support as we have a GREAT community of traders on this site!