EURJPY Is it time to go short?

13 Sep 2023

On EURJPY, we can observe a bullish setup following a breakout of a bearish trendline. The price has breached a significant swing high at the 157.70 level, creating a buying zone, as seen on the chart. This zone might also lead the price to retest the trendline. Furthermore, the price around 158.44 appears to have made highs during the Asian session and seems to have made a false breakout with the last 4-hour candle at a swing high level of 158.50. My objective will be to look for short-term trading opportunities during the London session. I'll keep an eye on this currency pair only in the morning and it will be the only one I'll monitor at least until noon when we have the U.S. CPI data. Let me know what you think, happy trading, everyone.