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Nov 3, 2017 1:07 AM

EURJPY profit target reached perfectly, prepare to sell Short

Euro Fx/Japanese YenFXCM

Description

Sell below 133.12. Stop loss at 133.51. Take profit at 132.28.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly as expected. We prepare to sell below major resistance at 133.12 (Multiple Fibonacci extensions, horizontal pullback resistance) for a push down to at least 132.28 support (Fibonacci retracement, horizontal pullback support).
Stochastic (89,3,1) is seeing major resistance below 99% where we expect a strong reaction from.
Comments
hvusteu
Do you do any cross asset correlation when doing your analysis, MEX_Exchange?
mary27
Thank you for providing analysis and details.
PavithraDharmapriya
thanks
PavithraDharmapriya
thanks
xdbsfa
Thank you!
truscu
Please keep posting more analysis on EURJPY, I follow it very closely!
gitihunivazem
Thank you for providing educational knowledge to the community here at tradingview, MEX_Exchange!
duhakui
Love analysis... thanks!
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