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MEX_Exchange

EURJPY on strong support, time to play a corrective bounce

Long
Euro / Japanese Yen (FX:EURJPY)  
MEX_Exchange Updated   
FX:EURJPY   Euro / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns EURJPY EUR jpy eurjpyshort eurjpylong eurjpysignal eurjpytrade Forex forexsignals
50
16
trendanalysis harmonicpatterns chartpattern eurjpy eur jpy eurjpyshort eurjpylong eurjpysignal eurjpytrade forex forexsignals
Buy above 131.43. Stop loss at 131.02. Take profit at 132.20.
Reason for the trading strategy (technically):
Price is testing strong support at 131.43 (Horizontal swing low support, bullish price action) and we expect to see a corrective bounce pushing price up to at least 132.20 resistance (Fibonacci retracement).
Stochastic (34,5,3) is seeing strong support above 6.6% where we expect a corresponding bounce from.
Trade closed: target reached:
Back with a bang!
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