EURJPY has closed above weekly support area at the price of 122.50 for the six consecutive weeks. I am expecting an upside for this pair to next weekly resistance area.
Reason :
- Weekly candlestick has struggled to go below 122.50 leaving long tail below.
- 123.30 area was previous resistance now support.
- Higher high formed, hinting the start of wave-2 motive.
- Potential to reach next resistance points :
Entry point Long : CMP or any pullback ; TP1 : 125.90, 126.50, 127.20 128.40 ; SL 122.25 area.
Risk Reward 1:2.3
Always remember to trade with stop-loss, market is crazy & cunning*
Reason :
- Weekly candlestick has struggled to go below 122.50 leaving long tail below.
- 123.30 area was previous resistance now support.
- Higher high formed, hinting the start of wave-2 motive.
- Potential to reach next resistance points :
Entry point Long : CMP or any pullback ; TP1 : 125.90, 126.50, 127.20 128.40 ; SL 122.25 area.
Risk Reward 1:2.3
Always remember to trade with stop-loss, market is crazy & cunning*
Trade active:
Entered my trade at day low, let the game begin.
Much patience is needed for this trade, good luck.
Much patience is needed for this trade, good luck.
Comment:
Price rallied another +100pips in less than 5-hours, currently holding +280pips gain since trade inception. Very strong bullish momentum
Comment:
TP 126.50 & 127.20 hit ~ 128.40 last target !
Trade closed: target reached:
TP 128.40 hit ! banked 430pips+.
I hope you guys enjoyed my analysis.
I hope you guys enjoyed my analysis.
Awaiting pullback to enter more to next target.