EURJPY L
Updated
EURJPY
Top Down Analysis:
Monthly:
Uptrend, trading inside a parallel channel;
Price is currently in between the key levels of 136.5 and 128;
Strong rejection on 136.5 resistance level;
Weekly:
Break of key resistance level 131.9;
131.9 was support for 12 weeks, and resistance for 7 weeks;
Break of that level shows signs of continuation of the monthly uptrend;
10EMA about to cross 20EMA supporting trend continuation;
Daily:
Pair recently broke above Falling Wedge pattern, and 131.9;
Currently moving sideways;
10EMA is above 20EMA indicating the are still in control;
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Entry Trigger:
4H Bullish Breakout Candlestick;
Stop Loss:
A few pips below entry candle's low;
Target profit:
1.34 key level;
Top Down Analysis:
Monthly:
Uptrend, trading inside a parallel channel;
Price is currently in between the key levels of 136.5 and 128;
Strong rejection on 136.5 resistance level;
Weekly:
Break of key resistance level 131.9;
131.9 was support for 12 weeks, and resistance for 7 weeks;
Break of that level shows signs of continuation of the monthly uptrend;
10EMA about to cross 20EMA supporting trend continuation;
Daily:
Pair recently broke above Falling Wedge pattern, and 131.9;
Currently moving sideways;
10EMA is above 20EMA indicating the are still in control;
_____________________________________________________________________________
Entry Trigger:
4H Bullish Breakout Candlestick;
Stop Loss:
A few pips below entry candle's low;
Target profit:
1.34 key level;
Trade closed: stop reached
Greed. Over extended TP. A 1.5RR would've been enough and make this a sucessful trade.
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