EURJPY bounced perfectly, remain bullish
Buy above 119.05. Stop loss at 118.19. Take profit at 120.23.
Reason for the trading strategy (technically):
Price bounced absolutely perfectly above our buying level. We now remain bullish with price making a further bullish exit of its descending resistance-turned-support line. The goal is to buy above 119.05 support (Fibonacci retracement, pullback support) for a further push up to 120.23 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) has made a bullish exit signalling a further rise is expected.
Reason for the trading strategy (technically):
Price bounced absolutely perfectly above our buying level. We now remain bullish with price making a further bullish exit of its descending resistance-turned-support line. The goal is to buy above 119.05 support (Fibonacci retracement, pullback support) for a further push up to 120.23 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) has made a bullish exit signalling a further rise is expected.
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