theforexarmy
Panjang

EURJPY right above strong support, remain bullish

FX:EURJPY   FX Euro/Yen Jepun
Buy above 119.62. Stop loss at 118.63. Take profit at 121.08.
Reason for the trading strategy (technically):
We remain bullish above 119.65 support (major horizontal support, Fibonacci retracement ) for a push up to 121.08 resistance ( Fibonacci retracement , horizontal pullback resistance).
Stochastic (21,5,3) is seeing strong support above the 6% level and also displays bullish divergence vs price signalling a bullish reversal is expected soon.
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