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Who’s up for trading major currency pairs? I hope you are, because these forex trade opportunities on EUR/USD and USD/JPY are too good to miss!

EUR/USD: 4-hour

EUR/USD 4-hour Forex Chart
EUR/USD 4-hour Forex Chart

EUR/USD is a couple of pips away from the 1.1400 major psychological handle, which lines up with a falling trend line AND 200 SMA resistance levels on the 4-hour time frame.

Think the euro will extend its downtrend against the dollar? Shorting at the earliest signs of bearish momentum around the MaPs is a good idea if you’re one of them euro bears.

If you think that the dollar’s weakness has only just begun, though, then y’all might want to look at a possible upside breakout on the chart.

A break above 1.1460 could take the pair to its previous areas of interest near 1.1550 or even 1.1700.

Keep close tabs on this one, fellas!

USD/JPY: Daily

USD/JPY Daily Forex Chart
USD/JPY Daily Forex Chart

I spy with my eye a potential symmetrical triangle in the making! USD/JPY just registered a wicked wick near the 114.00 handle that also lines up with a falling trend line resistance.

Thing is, the pair is also being supported by a rising trend line and the 100 SMA on the daily time frame.

Who will win this tug-o-pips? The School of Pipsology suggests that a breakout could be as strong as the height of the triangle. In this case, we’re talking about a potential 300-pip move.

USD/JPY has yet to break above or below the triangle, so y’all have time to whip up a trading plan for a breakout in either direction.

Whichever bias you choose to trade, make sure your breakout trading strategies and risk management are tight, aight?

Forex Chart Settings:

Slow Stochastic: 14,3,3
100 SMA: Blue line
200 SMA: Red line