Jroge107
Long

EURJPY: Keep It Simple

FX:EURJPY   Euro / Japanese Yen
Stop below the highlighted area & the blue trend, target is the 1.272 fib extension. Buy limit entry or a lower timeframe bounce.
Comment: Moved stops in profit. Nice break above structure and a good looking bullish candle too. Fib extension off the most recent bounce adds confluence to our target price, since the 1.618 and 1.272 align nicely.
Comment: *EDIT* with the 4hr candle closing shortly, if it does not close higher than the previous candle wick we could see a retracement down to the cyan line, adjust your stops accordingly.
Comment: I didn't get the opportunity to make the update on here to close out the trade early, but you can't be perfect all the time. Assessing the daily chart; i think we could see an even larger move to the upside. Find it interesting that yesterday's gigantic bearish candle couldn't touch the .786 fibonacci retracement as well as today's open price came in, once again, above the .786 fib. Long term the possibility to continue up to the region around 139.5 is out there.
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