It appears that EUR/JPY is now in a down trend channel.
Here’s a 4 hour chart. The orange lines were resistance lines; as you can tell though, the bottom orange line became a support line.
Well, I missed the big entry on Friday but after looking at things again I thought I might be able to sneak a few pips. I entered this trade based on the fact that my dark purple lines are forming a down channel and it’s been pretty consistent hitting the lines. there’s also a triangle forming sort of. Lastly, my pink crossing yellow line is a secondary signal. So, I entered it long and as of this post I’m down 9. I’m hoping to take a profit at 126.
based on the activity I was seeing, I adjusted my TP to 125.75. It spiked up at 1am PST and took my profit. It never hit 126 - it appears the high was 125.88 or so. Glad I adjusted because at this point I would be down quite a bit (it’s currently at 125.36).
So, I made about 22.