Buy above 127.94.
Stop loss at 127.01.
Take profit at 129.69.
Reason for the trading strategy (technically):
EURJPY is approaching its support at 127.94 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support) where price is expected to bounce up to its resistance at 129.69 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 2% where a corresponding bounce is expected.
Stop loss at 127.01.
Take profit at 129.69.
Reason for the trading strategy (technically):
EURJPY is approaching its support at 127.94 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support) where price is expected to bounce up to its resistance at 129.69 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 2% where a corresponding bounce is expected.