EURJPY Long - target 115 couple of days.
Recent bullish trend in EURJPY is mainly due to the bullish move ( relatively ) of EUR. With clarity on Fed hike - EUR has likely space for atleast 1.1175 ( +80 pips ) so likely to take pair up, within early next week. Tomorrows US Unemployment news to be monitored. Next week is light on releases.
Levels to watch -
1) Bullish - 114.50, 115.00, 115.50 , finally 116. This is the upper level of the channel.
2) Bearish - 114.15, 114.00, 113.50, 112.9. This is the lower level of channel.
We have tested 114-114.15 level, multiple times, across sessions. Think we will hover around 114.5 and move upto 115 atleast.
Levels to watch -
1) Bullish - 114.50, 115.00, 115.50 , finally 116. This is the upper level of the channel.
2) Bearish - 114.15, 114.00, 113.50, 112.9. This is the lower level of channel.
We have tested 114-114.15 level, multiple times, across sessions. Think we will hover around 114.5 and move upto 115 atleast.
Trade closed: target reached
Target 115 reached in 2 days.Closed longs at 115.2 Weakness in JPY led this sharp move to 115.2 in EURJPY today. EUR is near sell zone, so would wait to enter short at 115.2 - 115.5 - 116 scale short positions.Note
Entered short, scaled two positions. 115.3 , 115.6. Looking to ride the pull back upto 114. Chart setups to be examined
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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.