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EURJPY Range Trading Strategy – Thin Flat Ichimoku Cloud
With Euro and Japanese Yen both under pressure, a EURJPY range trading strategy seems like the way to go. Especially with the ever thinning, flat Ichimoku cloud forming on the daily chart. Read on for a IDDA approach to forex strategy development. Daily Chart: The EURJPY pair confirmed above a very thin Ichimoku cloud on the daily chart last week. That immediately opened doors for further gains. But how many pips are we talking? After reaching a 4-year low back in June on Brexit results, EUR/JPY has been forming higher lows while being capped by the 23% Fibonacci retracement level at 117.75. This certainly shows that ... (full story)