Great opportunity to go Long EURJPY ( 1:1 R-R)

Dear Friends,
I think this is going to be a good trade.
Here are the reasons that why I like this trade..



1) EURO Weighted average daily- Euro is bearish but look at this Long term blue wedge. I think it should visit the upper band of the wedge and then continuation.

2) EXY broke the topside of the wedge formation too

3) EURO Futures is self-explanatory

4) Fresh low on DXY, Daily RSI. (see red dotted line)

RSI trend diverges the price trend

5) YEN Weighed average visited the resistance and see how many times it tried to break the topside and could not. See the bearish engulfing candle.

6) Enough room for Yen futures to visit the rising trend line and trap shorts

7) Beautiful false breakout of the Japanese Bonds

8) Finally I like this 4 hours candle as it spiked the falling trend line and EMA 14

Thanks for your time friends,
With kind regards,

KHAN

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YEN Weighted average

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Thanks for following me.
KHAN

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We are out of this trade but YEN got to where we wanted it to be.