Today’s trading idea is coming from EURJPY. I have been waiting for a price action setup, which has finally come. As discussed with one of my followers (Dan) in the comments section, I finally had a confirmation from price. If you look at the daily chart of the EURJPY, you will find out that there is a pin bar, which is forming on the support level of 118.00. It seems to me, the time is ripe for a long entry now. I will be looking to place my stop-loss just below 117.00. My first price target is the level of 119.500. My next target (depending on price action) is the level of 123.000.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.