Trading EUR/JPY

I can see two scenarios here – the basic (1) and alternative (2).
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Mifar said:
I can see two scenarios here – the basic (1) and alternative (2).
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I'd say you're on fairly safe ground, there: when the price has been consolidating/congested for the past 30 bars, it's eventually going to break either upwards or downwards, isn't it? :rolleyes:
 
Am leaning on side of going up. Congestion that forms more than 50% goes up, recent higher lows and RSI bounced on the 50 are my observations.
 
A Market Update - EurJpy Pair Spot Price 131.24 Price when correctly to the 130.68 Bar as Forecasted yesterday - There now appears to be An additional Resistance Level at 132.00 at the H1 the 30 minute & 15 minute chart Bars - As to Supporting my Original Theory that the Price Movement within the Derivative is set and will travel directly to Support Level Low at 126.15 In this Actual Instant Price looks set to travel to 126.67 Low As of the Daily Trend Low. - Once Arrived will settle at the Level - Before A Swing High Phase - Back to 132.00 or there about. - This will conclude as Check & Check Mate - Against the EurJpy Pair if my forecast is proven right. We`ll have to Watch & See for the announcement & result - So keep watching this space.
 
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