The EURJPY is trading around a LT resistance level, every time the market gets close to these LT resistance level, it tends to trade in a short term range, in this case, the range is from 113.90 to 115.39:

What is interesting here is that if the EURJPY breaks the upper extreme of the range, we’ll have more than 500 pips before we hit the next LT resistance level, plenty of room to look for our trade.

Trade Safe!

Raul Lopez
Forex Training