GOR FX
Sergeant
- Messages
- 183
Hello Traders, After some rapid moves due to the fundamentals, the EUR/JPY formed a pinbar out of the H4 and plummeted a cool 200 pips. Well there is still another fundamental release today with draghi scheduled to speaker later in the day more moves are expected. A failed break above the resistance followed by a compulsive move down was definitely enough reason to take profit from the longs held long term.
Looking at the Ichimoku cloud, the pair has pierced and is well into the middle. To go short, we would have to wait for a complete break and retest of the lower edge confirmed by a break below 130.30 before entry. Else if, if the bullish trend is to resume, we would have to wait for a break above 132.36.
For now we just have to stay put before opening any trade.
Looking at the Ichimoku cloud, the pair has pierced and is well into the middle. To go short, we would have to wait for a complete break and retest of the lower edge confirmed by a break below 130.30 before entry. Else if, if the bullish trend is to resume, we would have to wait for a break above 132.36.
For now we just have to stay put before opening any trade.