EURJPY - Intraday - We look to Sell at 124.40 (stop at 125.00)
Prices have continued the bullish move higher and resulted in 5 consecutive positive days. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. Previous resistance located at 124.43. This provides an excellent risk/reward opportunity to fade the current bullish move. Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. Preferred trade is to sell into rallies.
Our profit targets will be 123.20 and 122.15
Resistance: 124.43 / 124.50 / 125.00
Support: 123.75 / 123.20 / 122.48
Prices have continued the bullish move higher and resulted in 5 consecutive positive days. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. Previous resistance located at 124.43. This provides an excellent risk/reward opportunity to fade the current bullish move. Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. Preferred trade is to sell into rallies.
Our profit targets will be 123.20 and 122.15
Resistance: 124.43 / 124.50 / 125.00
Support: 123.75 / 123.20 / 122.48
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