EURJPY: Trade Opportunities at Resistance
The price reached the resistance zone formed by a downtrend line and SMA50. If the bulls are strong, they will be able to break this zone. We will get a bullish signal in the direction of the main trend. MACD is going to support the further upward movement toward 126.500 resistance zone. It will give us new buying opportunities in the daily and hourly timeframes.
If the price bounces from the downtrend line, it will be a bearish signal. Probably we will see a new downward movement with the main targets at 122.350 and SMA200. We will be able to search for the exact entry points using the hourly and minutes timeframe.
All trades must be used with stop orders. Risk per trade must be no more than 1-2% of the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the price bounces from the downtrend line, it will be a bearish signal. Probably we will see a new downward movement with the main targets at 122.350 and SMA200. We will be able to search for the exact entry points using the hourly and minutes timeframe.
All trades must be used with stop orders. Risk per trade must be no more than 1-2% of the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.