As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=120.75.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=120.2.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
. There is a possibility of temporary retracement to suggested support line (125.85). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. EURJPY is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.