EURJPY approaching resistance, look out for potential reversal!
EURJPY is approaching its resistance at 121.960 where it is could reverse down to its support at 120.965.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Eurjpyprediction
EURJPY approaching support, potential for a bounce!
EURJPY is expected to drop to 1st support at 120.965 where it could potentially react off and up to 1st resistance at 122.158.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
EURJPY Short for 120 pipsEURJPY is entering a kind of ascending wedge pattern.
Target profit of around 100-120 pips for now.
Always Keep It Sweet n Simple, KISS.
Just embrace the most obvious pattern, while maintaining a good risk management.
EURJPY has been doing lower highs and lower lows for quite some time, and the next big trend will be established only after breaking either above or below the triangle/wedge base.
TAYOR
EURJPY Bounced off Trend Line: POTENTIAL BUYEURJPY has bounced off the descending TREND LINE along with the formation of a DOJI Candlestick which indicates there could be a recovery in EJ prices near term.
Hence, traders can look for BUY entries as long as price stays above the Trend Line between 121.80-122.10 with SL below the Trend Line. TPs can be set at 122.80 and 123.50 respectively.
EURJPY bounced off 4H support, now targets 123.50Yesterday, I bought EURJPY at 122.21 and also advised my followers/friends to do so. Right now we are holding the trades for 123.30 as final TP.
The support area managed to stop the fall and we also have a nice pinbar candle which indicates that we can see more bullish price action till 123.50.