• Vasily Trader

EURJPY: Inside Bar & Complete Indecision

EURJPY is trading on a strong daily key level.

The price formed an inside bar formation on that signifying complete indecision.

On 6H time frame we can see in detail how the price acts:

the pair is stuck within a narrow horizontal trading range.

130.75 is its resistance

130.15 is its support

From a current perspective I see two potential scenarios:


In case of a bullish breakout of resistance of the range,

bullish continuation will be expected

Next daily resistance will be 131.07


In case of a bearish breakout of support of the range,

bearish move will be expected

Next support will be 129.675

I am on a bearish side and will trade only in case of a bearish breakout,

but who knows.