- Daily trading signals- complete with Entry Point, SL and TP
- Trading community- for you to ask questions and discuss market opportunities
- Pro Trading Course
300Eur instead of 450Eur
EurJpy- 124 can be the target for this week
127 is strong resistance for EurJpy , marked by a bearish Pin Bar .
Now the pair is heavy and also is trading under trend line support.
A clear break of 125.30 would expose 124.00 important support in the short term.
Sell rallies towards 126 could be s good strategy with 1:2 R:R
NzdJpy- False break can lead to a steep drop:
Last week NzdJpy traded for just one day above 71.50 resistance. The break proved to be a false one and a strong bearish engulfing followed.
Usually, false breaks announce strong reversals and I expect the pair to drop to recent rage support at 69 zone.
Sell trades around 71.50 have a great R:R.
CadJpy- I’m still bearish:
Last week I said that CadJpy could have found a top at 81.50 zone and a drop to 80 is not out of the question.
The pair is consolidating under this resistance as if is waiting for a trigger.
I maintain my bearish outlook and I expect CadJpy to drop to at least 80 zone. Also, a correction in Oil price would t hurt…
GbpJpy- 135 is my medium term target:
The rise from 132.50 is typical for last legs up and after a short spike above 142, GbpJpy has reversed and is now trading under 140.
I expect the pair to drop at 135 in the medium term and I will look for sell opportunities that offer a good R:R
Note: From all possible JPY trades I like most NzdJpy, but keep in mind that we have EurJpy short in the same idea.