EURJPY Long

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Here we have our EURJPY chart.

We are looking long for the following reasons;

Strong support level and previous rejection zone - As highlighted you can see where price has previously bounced off. This is a price level that traders want to move up from, as resistance becomes new support.

Our stochastic oscillator is at oversold and is very low.

Price has fallen back far and it is now cheap. This is why we are now buying. We buy low and sell high.

Our target is indicated by the arrow drawn.