Forextuitions

Daily outlook for EUR/JPY

Long
FX:EURJPY   Euro / Japanese Yen
EURJPY : 4 Hour cycle is bullish against 4/17/2017 low (114.85) while the 1-hour cycle is expected to turn bullish on a break above 2/2/2018 high (137.5). Near-term correction against 6/19 cycle is proposed complete at 128.48. Near term, while pullbacks stay above there, and more importantly above 126.54, expect pair to extend higher. We don’t like selling the pair and prefer the upside against 126.54 low.

Buy @ 128.90/128.75

Target: 129.80
Stop loss: 128.50

Good Luck !

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