Eurojpy
EURO/JPY SHORT OPPORTUNITY Descending triangle pattern seen in EURO/JPY 15 mins time frame
short this pair if it breaks below 143.082 levels
EURJPY Intraday ForecastAs 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:
TP3: R1=121.4.
TP4: R2=121.65.
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 S2=120.2.
In this situation, there is an expectation to reach the target S3=119.
Set the stoploss of reverse orders at breakout of S1=120.75.
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Don't miss the great buy opportunity in EURJPYTrading suggestion:
. 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.
Technical analysis:
. 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.
. The RSI is at 51.
Take Profits:
TP1= @ 126.34
TP2= @ 126.75
TP3= @ 127.50
SL= @ 125.65
