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theforexarmy

EURJPY remain bullish for a push up

Long
Euro / Japanese Yen (FX:EURJPY)  
theforexarmy  
FX:EURJPY   Euro / Japanese Yen
EURJPY eurjpyshort eurjpyidea eurjpydaily eurjpynews eurjpylong EUR jpy eurjpyanalysis eurjpy1hr eurjpylongsetup eurjpysell eurjpytrade
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eurjpy eurjpyshort eurjpyidea eurjpydaily eurjpynews eurjpylong eur jpy eurjpyanalysis eurjpy1hr eurjpylongsetup eurjpysell eurjpytrade
Buy above 118.22. Stop loss at 117.45. Take profit at 120.23.
Reason for the trading strategy (technically):
Price is approaching support at 118.22 (Fibonacci extension) where we expect to see a bounce from to at least 120.23 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (21,5,3) is seeing strong support above the 5.4% level.
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