EURJPY profit target reached perfectly. Prepare to buy
Buy above 129.56. Stop loss at 129.20. Take profit at 130.78.
Reason for the trading strategy (technically):
Price has bounced off our buying area perfectly and has reached our profit target. We prepare to buy above 129.56 support once again (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to at least 130.78 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing strong support above 7.5% where we expect a further bounce from.
Reason for the trading strategy (technically):
Price has bounced off our buying area perfectly and has reached our profit target. We prepare to buy above 129.56 support once again (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to at least 130.78 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing strong support above 7.5% where we expect a further bounce from.