Market is slowly returning to its regular state after the holidays and volatility started to increase.
That being said we can look closely at the EURJPY pair which is currently forming a great buy setup.
Technical Overview:
D1 – Pair is close to Bollinger Band duplication and near a support zone. Also it already has formed bullish hidden divergence
H4 – Already at extreme levels, 20+ candles ride on the bollingers, double wave moves
Entry:
Starting from the current market levels 142.00 down to 141.00 the pair should find a bottom.
Drop to the H1 chart, wait for the initial wave up followed by double wave correction and consider a buy trade.
Target 1: 144.00
Target 2: 144.50 (gap zone)
