The EURJPY moves sideways last few days and this creates good opportunities for harmonic pattern traders. The market is going down today and if it continues and touches the support area at 130.64, there will be a setup for long. The price respected that level multiples times already and it is more likely it will do it again. The buying orders are usually placed at key areas and I assume there will be enough orders to push the price up.
Moreover, there is a potential bat pattern formation, which will increase the probability of this trading setup. I will patiently wait the market to touch my entry level and then make a buy order. T1- 38.2% T2 – 61.8%