EUR/JPY Inside Bar Entry Is Huge R:R

Analyst, Full-Time Trader • Oct 15, 2021 at 9:35 AM EDT

The EUR/JPY is very bullish. We can see the price moving unidirectionally to the upside.

The EUR/JPY is very bullish. We can see the price moving unidirectional to the upside.

As the price is breaking above all the resistance levels we can see the logic of the trade. EUR/JPY Inside Bar Implosion entry by Megatrend Price Action Trading. Inside bars usually indicate a stalling market that precedes a breakout or implosion. IB setups often occur within markets which are trending and are the cue for a trend continuation. 129.55 is the entry.

The projected target is between 4:1 or 5:1 R:R at 132.95 -133.80.

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