We have a potential reversal on the weekly chart of the EUR/JPY. It may be worth keeping an eye on the lower time frame charts this week, such as the 1 hr or 4 hr to look for a break of an early pull back that will signal the continuation of last weeks bullish run.

This can be a great way to get into a trade with very small risk and a potentially massive reward.

Patience is the key here, waiting for a clear break of a downtrend on a 1 hr or 4 hr chart in a bullish reversal situation can allow us to put our stop in a position that if breached means minimum loss and we must then wait for the next break of the downtrend. It may take a few attempts to get into a trade but it can pay off handsomely if the reversal is genuine.

As always, these are just my own thoughts on the current market and you should always do your own research before placing any trades. We are in no way responsible for any losses that may occur from information on this website, but we hope the information that we give is useful to you and we wish you the very best with your trading journey.