Hi Traders! We have EURJPY bullish opportunity forming at the moment. A detailed analysis of this buy setup is as follows:
EURJPY D1 Chart:
On the daily chart we have a bullish divergence (if you want to learn about divergence you can learn it here) that is forming at the moment which we may consider as an evidence of bullish pressure. We may now look for bullish setups with bullish evidences on lower timeframes in order to join the bulls.
EURJPY H1 Chart:
On the H1 chart the price is building up three higher highs and three higher lows which we may consider as an evidence of bullish pressure. Once this completes itself we may then look for possible retraces to happen and then we may start looking for buys with more bullish evidences expecting possible continuation higher.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
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