EURJPY potential breakout of range on H4

Since around the 7th of January, EUR/JPY has been trading within a range as displayed. However, price has recently broken this range. Two possibilities have been identified.

1. The breakout of the range fails similar to that which occurred on the 15th to 16th of January. This upon a retest of the resistance of 125 is a confirmed short signal. The target for this trade would be 123.830.

2. The breakout is successful and 125 holds as support giving a long signal with a target of 125.830.

Trade attivo:

Short signal confirmed.

Trade chiuso manualmente:

No real movement today. Break even.

Seeking further confirmation as to direction.

Trade attivo:

Attempting to go short again.

Trade chiuso: stop raggiunto