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MEX_Exchange
Jun 21, 2017 1:52 AM

EURJPY approaching major support, prepare to buy Long

Euro Fx/Japanese YenFXCM

Description

Buy above 123.78. Stop loss at 123.15. Take profit at 125.32.
Reason for the trading strategy (technically):
Price is approaching major support at 123.78 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and we expect to see a bounce above this level for a rise to at least 125.32 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing strong support above 4.7% where we expect a bounce from.
Comments
slt
Best entry I have seen in a long time nice work.
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