EURJPY OUTLOOK
Price is currently ranging in between 142.820 (resistance) & 141.950 (support). Trades within the range is possible via the ‘bounce’ strategy, where shorts can be opened at the resistance, and longs can be opened at the support. Should price break out of the resistance of the range, it is expected to move towards the next resistance level at the 143.500 psychological level. Should price break out of the support of the range, it is expected to move towards the next support level at the 141.400 level.
Since price is currently near the support of the range, impulse long entries are possible now.
SL will be placed below the support, final TP will be placed at the resistance of the range.
Buy entry: 142.055
SL: 141.685
FINAL TP: 142.820
Price is currently ranging in between 142.820 (resistance) & 141.950 (support). Trades within the range is possible via the ‘bounce’ strategy, where shorts can be opened at the resistance, and longs can be opened at the support. Should price break out of the resistance of the range, it is expected to move towards the next resistance level at the 143.500 psychological level. Should price break out of the support of the range, it is expected to move towards the next support level at the 141.400 level.
Since price is currently near the support of the range, impulse long entries are possible now.
SL will be placed below the support, final TP will be placed at the resistance of the range.
Buy entry: 142.055
SL: 141.685
FINAL TP: 142.820
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