EURJPY Buy Opportunity

The price bounces from the support zone formed by Kijun line, the uptrend line and the cloud. RSI confirms the price reversal. The strong bullish candle shows the strength of bulls and it gives us a buy signal with entry level above the high. Just don't forget to get the close price for this signal candle and only after that place pending orders for buy. Stop orders can be placed below 127.50 support level. Profit targets should be at the resistance levels.

As the market is above the cloud, we work in the uptrend. New buy opportunities will be based on reversals from Ichimoku lines and the uptrend. If the price drops below the cloud, we'll have to change the direction of trading.

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Comment:

If you placed pending orders for buy above the high of the signal candle, now you must be in good profit.