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.
Comment:
Entered short, scaled two positions. 115.3 , 115.6. Looking to ride the pull back upto 114. Chart setups to be examined