EURJPY Testing Support, Prepare For A Bounce
Buy above 127.94.
Stop loss at 127.01.
Take profit at 129.69.
Reason for the trading strategy (technically):
EURJPY is approaching its support at 127.94 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support) where price is expected to bounce up to its resistance at 129.69 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 2% where a corresponding bounce is expected.
Stop loss at 127.01.
Take profit at 129.69.
Reason for the trading strategy (technically):
EURJPY is approaching its support at 127.94 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support) where price is expected to bounce up to its resistance at 129.69 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 2% where a corresponding bounce is expected.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.