EURJPY - Daily - Knocking on Heaven's Door.
This has to be one of the crazy ones.
Range traders should be very happy by now. This has to be one of the longest ranges ever.
Will we get a break by the end of this year? Would be cool to see that.
But all wishes aside, the pair is banging on its upper side of the range. Now, we can't really say that it's going to pop, but we definitely have to monitor it for the next couple of days.
Certainly, at the moment it looks like it's going to go higher, but everyone was wrong on the last "breakouts", so let's just let it break and then we will jump in.
Also, be careful with false breakouts, because this has been ongoing for quite a while, that is why a lot of traders are monitoring it. So it would be ideal for the pair wipe some of them out and then do its final move.
I believe, the best one to observe would be the Weekly chart (even though this one is a Daily). If the week closes above, then we could potentially see some nice BUY positions for a very LONG time.
But till then, keep an eye on the price action!
Range traders should be very happy by now. This has to be one of the longest ranges ever.
Will we get a break by the end of this year? Would be cool to see that.
But all wishes aside, the pair is banging on its upper side of the range. Now, we can't really say that it's going to pop, but we definitely have to monitor it for the next couple of days.
Certainly, at the moment it looks like it's going to go higher, but everyone was wrong on the last "breakouts", so let's just let it break and then we will jump in.
Also, be careful with false breakouts, because this has been ongoing for quite a while, that is why a lot of traders are monitoring it. So it would be ideal for the pair wipe some of them out and then do its final move.
I believe, the best one to observe would be the Weekly chart (even though this one is a Daily). If the week closes above, then we could potentially see some nice BUY positions for a very LONG time.
But till then, keep an eye on the price action!