MEX_Exchange
Long

EURJPY profit target reached perfectly, prepare to buy

FX:EURJPY   Euro / Japanese Yen
Buy above 113.12. Stop loss at 132.78. Take profit at 134.13.
Reason for the trading strategy (technically):
Price has dropped nicely to our profit target. We prepare to buy above major support at 133.12 (Multiple Fibonacci retracement , horizontal swing low support) for a push up to at least 134.13 resistance ( Fibonacci extension , horizontal swing high resistance).
Stochastic (34,3,1) is seeing strong support above 1.6% where we expect a corresponding bounce from.
Comment: Whoo! We be bagging some serious pips here guys!

Comments

double top now at resistance time to short? :)
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You are best!!!
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Perfect!!!
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SaeffSuhaili SaeffSuhaili
Big thanks
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what next for EURJPY you think ! there is a big RSI divergence at 1 hour timeframe.
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twitterfx8 twitterfx8
@MEX_Exchange , great analysis by the way
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Thanks once again for the great analysis!
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Really useful analysis on EURJPY, thanks!
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Lovely analysis... thanks!
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than you sir. you are really good. hope to learn from you ....
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