forex_meister
Long

EUR/JPY long trade idea

FX:EURJPY   Euro Fx/Japanese Yen
24 0 0
EUR/JPY             has gained some 200 pips over the past 3 days and in my view the bullish pattern will continue. Looking at the weekly chart, support at the pivot point has held.

Looking at the shorter timeframes 4H (137.68), 1H (137.66) & 30M (137.66) - all these timeframes has the same support give or take a few pips.

I would go long here (137.75), SL at 137.60 (even lower) and riding the upward trend.

If you're a long term trader you can take profit at 144.00. If you're not the patient type take regular profits and enter long trades on the dips.

Happy pipping.

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