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Daily50ema

EURJPY (CROSS) LONG Trade Setup! En-route to 128.000 levelTRADE TYPE: INSTANT EXECUTION AT AROUND 125850 LEVEL TRADE TYPE: BUY (LONG POSITION) STOP LOSS: 123.875 TAKE PROFIT: 128.000 PRICE HAS ALREADY CLOSED ABOVE THE DYNAMIC RESISTANCE OF DAILY 50 EMA GIVING ME ENOUGH CONFIRMATION TO GO LONG ON THIS TRADE. Furthermore The EUR is likely to appreciate soon against the USD because of incoming USD weakness. The price is currently confined in a channel and is likely to be en route to 128.000 level where the weekly 50 EMA is also present. there are various technical aspects and fundamental parts that are not visible on such short timeframes. On a longer timeframe based on support and resistance levels the CROSS seemed to be headed up for now. cheers, shall there be any updates i would be providing them in this thread.
Long
by FX618Analysis