Greeting Forexia Crew, another good week to trade. Lets get into break down of EURJPY analysis. As from the analysis above you can see that the EURJPY has overall macro downtrend. While, you can see rising macro uptrend within the downtrend. Where it indicates the price might continue going down. As it can be seen from the analysis that EURJPY has formed the rising trap trendline where lots of people jump into buys. I am waiting for the possible scenario down below, bounce of the zone before London open and get a good entry on DMA.
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Please use proper money management and lot sizes!
The analysis has worked perfectly, thanks to DMA with right entry 0 draw dawn, 90pips in profit. Trade Closed! 1:3 Risk to Reward.