I have Bear with EURJPY.

Thus I have been shorting EURJPY from 133.45 based on Daily chart. (Short from MM4 + Role Reversal Resistance.  Also Blocked by Daily Ichimoku Cloud)



On Daily Ichimoku, the candle came up a bit, and approaching to Tenkan Line (Red line).  I am assuming either Tenkan Line or the bottom of the Cloud can be the resistance to this pair.



Also please take a look at H4 chart.  The price is about to reach Role Reversal Resistance while Stochastic is in overbought zone.  Smells like a good Short??


Now, here is Hourly chart.  Stochastic is also in overbought zone and crossed down already.   I will monitor the price action on M15 chart especially between 132.50-80 to short.



Alternatively, the price may not go up anymore, and drop at London open?  If that’s the case, I would like to short after the break of DPP.



Hope this setup helps you build your own.


YJ Baik – Forex.Today @ Tokyo


One thought on “EURJPY Trade Setup (Dec 22)”

  1. Horace Sutherland says:

    Thanks YJ, I have been watching this currency pair

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