EURJPY - Intraday - We look to Buy at 117.50 (stop at 117.00)
Previous resistance level of 117.55 broken. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. Buying posted in Asia. The move higher is mixed and volatile, common in corrective sequences. Further upside is expected although we prefer to set longs at our bespoke support levels at 117.50, resulting in improved risk/reward.
Our profit targets will be 118.50 and 119.00
Resistance: 118.50 / 119.00 / 120.00
Support: 117.50 / 117.00 / 116.50
Previous resistance level of 117.55 broken. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. Buying posted in Asia. The move higher is mixed and volatile, common in corrective sequences. Further upside is expected although we prefer to set longs at our bespoke support levels at 117.50, resulting in improved risk/reward.
Our profit targets will be 118.50 and 119.00
Resistance: 118.50 / 119.00 / 120.00
Support: 117.50 / 117.00 / 116.50
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