EUR/JPY day trade opportunity in the making 1:3.5 R/R

Ross J Burland FXStreet

As per the following article, EUR/JPY Price Analysis: Bear's stars aligning for both short-term and swing-trading opportunities, a day trade opportunity has arisen.

However, the Nonfarm Payrolls on the horizon and given the magnitude of the bullish correction, it is a slightly higher risk opportunity and should be managed as so.

Nonetheless, the risk to reward ratio is highly compelling when married to the fundamentals of the US stock market slump for both the Asian and European sessions ahead.

1HR chart

15-min chart

Update: Sell limit filled

Breakeven achieved

The strategy caters for win-loss ratios and breakeven.

In this particular case, the price made a fresh lower low since entering the correction, at which point the stop is moved to breakeven.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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