. 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.
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=129.
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 R2=129.15.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...