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Eurjpydaily

EURJPY profit target reached perfectly, prepare to buyBuy above 119.64. Stop loss at 119.16. Take profit at 120.66. Reason for the trading strategy (technically): Price dropped perfectly and reached our profit target we have been targeting for the entire of last week. We now turn bullish above 119.64 support (Fibonacci retracement, Fibonacci extension, horizontal support). Target would be 120.66 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (21,5,3) is seeing strong support above the 6.4% level.
Long
by theforexarmy
EURJPY dropping perfectly as expected, remain bearishSell below 121.09. Stop loss at 121.86. Take profit at 119.65. Reason for the trading strategy (technically): Price has reacted perfectly from our selling area. We remain bearish below 121.09 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to 119.65 support (Fibonacci extension, horizontal support, recent swing low support). Stochastic (34,5,3) has reacted off our 92% resistance level perfectly.
Short
by theforexarmy
EURJPY profit target reached perfectly, prepare to sellSell below 121.09. Stop loss at 121.86. Take profit at 119.65. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly. We now turn bearish below 121.09 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to 119.65 support (Fibonacci extension, horizontal support, recent swing low support). Stochastic (34,5,3) is seeing resistance at the 92% level.
Short
by theforexarmy
EURJPY right above strong support, remain bullishBuy above 119.62. Stop loss at 118.63. Take profit at 121.08. Reason for the trading strategy (technically): We remain bullish above 119.65 support (major horizontal support, Fibonacci retracement) for a push up to 121.08 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (21,5,3) is seeing strong support above the 6% level and also displays bullish divergence vs price signalling a bullish reversal is expected soon.
Long
by theforexarmy