EURJPY - Now Wait For Bears!

5 gen 2023

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

As per my last analysis (attached on the chart) we were looking for bulls to take over around our green support.

on DAILY: Left Chart
EURJPY traded higher and now approaching the blue resistance zone, so we will be looking for sell setups on lower timeframes.

on H1: Right Chart
For the bears to take over, we need a break below the previous low in gray.

Bear in mind that EURJPY can still trade higher, dive inside the resistance zone and then form a new swing low. In this case, we will update our gray zone (trigger swing)

Meanwhile, until the sell is activated, EURJPY can still trade higher inside the daily resistance zone or even break it higher.

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich