EURJPY- Range Bound on Daily-with Long Bias

FX:EURJPY   Euro / Japanese Yen
28 0
A sell signal was triggered on this pair earlier week, with bears pushing price below the 200 ema . I was able to make profits off of a short trade from the 200 ema . After 20 pips my Trade Manager expert Advisor, always brings my stop loss to break -even and takes off 50% of my trade position. The balance of my trade position on the EURJPY was closed off at break-even , as price moved back above the 200 ema . I don't usually discuss my trading strategies in detail, but I thought would mention it as trade management, is essential to getting profits from a volatile market or currency pair.

Based on price action of this pair, I have gone to the daily chart . This is the summary of how I will be trading this pair in the upcoming week is as follows:-
1) The pair is essential stuck in a range ( daily chart ) . Boundaries - Upper: 125.30-33, Lower: 123.50- I will be buying dips close to or at 123.50 or at the further extremity of 122.60 (if seen)
2) Aggressive traders can sell at the top of the boundary at 125.30, but run the risk of price going to 125.80 or beyond (in line with the dominant trend) .Tight stop losses will be needed.
3) I will be looking to see if price attempts any break out of this range. In the meantime I prefer to trade only the daily boundary levels only on dips.

Safe Trading all!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out