Forex Price Action | EURJPY +6 pips 2016-04-13

#EURJPY +6 pips 2016-04-13 | 5 min Trend Trade

EURJPY is in a massively extended reversal the 5 min time frame. You can see the move has been quick because the 1 min boxes haven’t moved past the 5 min boxes yet price is over 40 pips away from the lead 5 min box.This is unusual and is largely because EURJPY had been pulled sharply higher by EURUSD. As always, when trading a cross pair it is important to check the parental pairs. In this case Euro has moved substantially away from its 1 min boxes and is now at resistance with EURJPY in a extended reversal pattern a short on EURJPY is taken which yields a quick +6 pips

You can learn more about the forex TimeLanes trading software here.

Forex Price Action | EURJPY +6 pips 2016-04-13 was originally published on 24HR Forex Trade Room

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