EURJPY is presenting us with a nice opportunity to go long on.
Buy above 130.62. Stop loss at 129.75. Take profit at 132.35.
Reason for the trading strategy (technically):
Price is testing strong support at 130.62 (Fibonacci retracement, horizontal overlap support) and a strong bounce could occur at this level to push prices up to 132.35 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) is seeing strong support above 4.8% where a corresponding bounce could occur.
Buy above 130.62. Stop loss at 129.75. Take profit at 132.35.
Reason for the trading strategy (technically):
Price is testing strong support at 130.62 (Fibonacci retracement, horizontal overlap support) and a strong bounce could occur at this level to push prices up to 132.35 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) is seeing strong support above 4.8% where a corresponding bounce could occur.