EURJPY - Plenty of Upside Ahead - Target 127.600 Insight
Chart: 4HR Time Frame
Market: Bullish Market
Bullish Indicators
1. Low Test Candle (Daily Chart)
2. Low Test Candle (4 Hour Chart)
3. Daily & 4 Hour low test candle reject 125.500 area (key support zone) evident by blue circles
4. Low test candles (blue rectangle) low below 50 EMA, open & close above 50 EMA
5. Price forming Higher lows
6. Trend line resistance on 4 hour chart now turned support.
Risk Management
Risk / Reward: 1:2.94
Stops: 125.400 (below low test candle low & below daily support level of 125.500)
Target: 127.600 (Key Daily & Weekly Resistance)
Agree/Disagree? Comment Below!
Market: Bullish Market
Bullish Indicators
1. Low Test Candle (Daily Chart)
2. Low Test Candle (4 Hour Chart)
3. Daily & 4 Hour low test candle reject 125.500 area (key support zone) evident by blue circles
4. Low test candles (blue rectangle) low below 50 EMA, open & close above 50 EMA
5. Price forming Higher lows
6. Trend line resistance on 4 hour chart now turned support.
Risk Management
Risk / Reward: 1:2.94
Stops: 125.400 (below low test candle low & below daily support level of 125.500)
Target: 127.600 (Key Daily & Weekly Resistance)
Agree/Disagree? Comment Below!
Comment:
Target Reached.