With today being a major holiday in most European countries we don't look for any short term trades and focus on a longer term trade on EURJPY.
EURJPY (Daily) SELL
The Trend/Wave/Extreme mini indicator is showing us
- The Trend Bar is Red filled pointing Down Trend
- Wave and Extreme Bars are Up Overbought pointing an up correction that may be ending
- A very solid down trend line.
- The correction so far has been 160 pips which makes this sell highly lucrative
Note*: Keep an eye at the 137.50 level as a potential breakout and reversal to the upside may occure there
If you are planning on selling this pair wait for two consecutive down candles.
Read about the Trend/Wave/Extreme system here