EUR vs JPY Attacking H4 Range Resistance

13 Mei 2015

EUR vs JPY is at the top of the H4 range which started 10 days ago, Price is at the bottom of the resistance zone between 135.520 & 136. I am looking for this zone to hold at this time as I always expect support and resistance to do what it has done previously unless price shows otherwise. Still a little early to tell exactly where to enter this market but we should be looking at the price action to let us know what might happen next. Here's where we read the market bar by bar but be careful because this is an area where you will see bull traps or fades. The current H4 candle still has another 36 minutes before closing so I will start to look for signs of weakness at this level with smaller candles, dojis and upper wicks. Have a great trading day and God bless!