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MEX_Exchange

EURJPY profit target reached perfectly, prepare for a bounce

Long
Euro / Japanese Yen (FX:EURJPY)  
MEX_Exchange  
FX:EURJPY   Euro / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns jpy EUR EURJPY eurjpyshort eurjpylong eurjpysignal eurjpytrade Forex forexsignals
135
13
trendanalysis harmonicpatterns chartpattern jpy eur eurjpy eurjpyshort eurjpylong eurjpysignal eurjpytrade forex forexsignals
Buy above 132.38. Stop loss at 131.99. Take profit at 133.15.
Reason for the trading strategy (technically):
Price has plummeted down to our profit target perfectly from our selling area. We prepare to buy above 132.32 support (Fibonacci retracement, horizontal overlap support) for a corrective bounce to at least 133.15 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (55,3,1) is seeing strong support above 2.1% where we expect a bounce off too.
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