EURJPY profit target reached perfectly, prepare for a bounce
Buy above 132.38. Stop loss at 131.99. Take profit at 133.15.
Reason for the trading strategy (technically):
Price has plummeted down to our profit target perfectly from our selling area. We prepare to buy above 132.32 support (Fibonacci retracement, horizontal overlap support) for a corrective bounce to at least 133.15 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (55,3,1) is seeing strong support above 2.1% where we expect a bounce off too.
Reason for the trading strategy (technically):
Price has plummeted down to our profit target perfectly from our selling area. We prepare to buy above 132.32 support (Fibonacci retracement, horizontal overlap support) for a corrective bounce to at least 133.15 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (55,3,1) is seeing strong support above 2.1% where we expect a bounce off too.