EURJPY approaching strong support, prepare to buyBuy above 131.57. Stop loss at 131.09. Take profit at 132.63.
Reason for the trading strategy (technically):
Price is whipsawing around recently. We look to buy above strong support at 131.57 (Fibonacci retracement, bullish price action) for a bounce to at least 132.63 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (89,3,1) is seeing strong support above 1.4% and has good upside potential for our rise to occur.
