Trade of the Day: EURJPY
23 May 2022
The trend for EURJPY at the moment is more to the consolidating. The price unable to decide which trend to take and waiting for a big catalyst before making a big break out.
What are we waiting for is that when the price break either the resistance or the support of the trend line to decide which position that we will enter.
If the price break above the resistance, we will be looking for opportunity to find long position when the price back to retest the resistance become support zone.
If the price break below the support, we will be looking for opportunity to find short position when the price back to retest the support become resistance zone.