Potential Long Position for EUR/JPY_Trade Plan 2017.06.26

Panjang

Euro / Yen Jepun (OANDA:EURJPY)

OANDA:EURJPY Euro / Yen Jepun

eurjpy long tradeplan daytrade uptrend pullback

Legend for price level, trend line, and rectangle:
Dark Gray > Weekly Level
Blue > Daily Level
Red > H4 / H1 Level
Green > M15 / M5 Level
Yellow > M1 Level

Since price formed false break out to the upside from major D1 support area 122.807 - 123.638 on June 15, 2017, currently price is moving up above MA200 in all D1, H4, and H1 timeframe.
On last Friday, price also breaks out to the upside from the congestion area in form of Symmetrical Triangle Pattern.
Thus, the market bias is still up.

To follow the overall uptrend, wait for pull back to previous resistance area now turns to support 124.355 - 124.471.
If price shows some rejection to the upside from this area, can consider to long the market.
With Stop Loss 35 pips and Target Profit 70 pips, the potential trade offers 2.00 Reward-To-Risk Ratio.

As the second target, next resistance area 125.565 - 125.816 would be an alternative, with Target Profit 100 pips, Reward-To-Risk Ratio increases to 2.86.

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.