The EURJPY traded for a few days in a range in between 132.78 and 134.40, it was a pretty defined range, but it only had around 160 pips in between, making it hard to find good swing trades. However, the EURJPYalready broke the top of that range. Take a look at the next chart:
It is trading above that range and it will probably continue its way up until the next long term resistance level is reached.
My Trading Plan:
As long as the EURJPY keeps trading above 134.40 I will be looking for long opportunities and will target the next resistance level around 137.42.
All short opportunities will be ignored.
I’ve been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .