EUR/JPY Long Potential
Looking at potential longs on EJ going into next week. Last week finish with 2 daily bullish candles, which looks to be the end of the road for selling on this pair.
Thursdays daily close brought a 4 hour double bottom to indicate price has run out of steam to the downside and will now see bulls get in control. From this, friday showed non-stop bullish momentum.
If price holds through monday on the new bullish trend, I will look for entries to ride this pair up into 117.500 region
There is still a possibilty this is just a pullback, and that the market will continue to the downside. If so, we will look for structure to be broken before seeking entries.
Thursdays daily close brought a 4 hour double bottom to indicate price has run out of steam to the downside and will now see bulls get in control. From this, friday showed non-stop bullish momentum.
If price holds through monday on the new bullish trend, I will look for entries to ride this pair up into 117.500 region
There is still a possibilty this is just a pullback, and that the market will continue to the downside. If so, we will look for structure to be broken before seeking entries.
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