EURJPY Break-out Performance
Updated
Looking a few days back, there is a excellent morning star signal that does not quite come through until the news today where the 123.000 level was retested (false break).
Looking at the structures performance there is still a bit left to go with open retracement opportunities (scalping short-term buys).
Price expected to reach the 120.800-120.750 range where the should be some support for the buyers from older structure (Opening Price on 24/06/2016).
Having passed this I do not see any reason not to reach the 120.000 -ish level.
Hope you made your pips today.
Looking at the structures performance there is still a bit left to go with open retracement opportunities (scalping short-term buys).
Price expected to reach the 120.800-120.750 range where the should be some support for the buyers from older structure (Opening Price on 24/06/2016).
Having passed this I do not see any reason not to reach the 120.000 -ish level.
Hope you made your pips today.
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Bear in mind that a falling wedge formation on an uptrend signals trend continuation but we are taking this approach as a retrace of the strong bull move over the past few weeks. Always monitor your trades and make sure you set profits AND stop losses wisely to end an order.
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