EURJPY LONG SETUP
EURJPY: Price is in an UPTREND, last weekend i share the LONG SETUP where we took a buy trade @ 126.15, in the analysis i outlined the potential of the WEDGE PATTERN in the 4H chart, in relation to the horizontal resistance from 2019 @ 127.50.
I said a break above the WEDGE PATTERN will take out the horizontal resistance from 2019, which is what we saw happened last week, we had the first daily close on Monday and eventually a weekly close above 127.50 on Friday, price retested the resistance zone on Wednessday, treated it as new support.
Going into the new week, I'll be looking out for another retest holding at the zone for more upside, with stoploss below structure and target @ 130.00
I said a break above the WEDGE PATTERN will take out the horizontal resistance from 2019, which is what we saw happened last week, we had the first daily close on Monday and eventually a weekly close above 127.50 on Friday, price retested the resistance zone on Wednessday, treated it as new support.
Going into the new week, I'll be looking out for another retest holding at the zone for more upside, with stoploss below structure and target @ 130.00
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