EURJPY has rejected from yesterday's low at the price of 123.60 area. I am expecting an upside for this pair to next weekly resistance area.
Reason :
- Daily candlestick has struggled to go below 123.60 leaving long daily candle tail below.
- Head and Shoulder pattern formed in 2hourly TF.
- Higher high formed, hinting the start of wave-2 motive.
- Potential to reach next resistance points :
Entry point Long : CMP or any pullback ; TP : 125.20 (+130pips) ; SL previous low.
Risk Reward 1:3.5
Always remember to trade with stop-loss, market is crazy & cunning*
Reason :
- Daily candlestick has struggled to go below 123.60 leaving long daily candle tail below.
- Head and Shoulder pattern formed in 2hourly TF.
- Higher high formed, hinting the start of wave-2 motive.
- Potential to reach next resistance points :
Entry point Long : CMP or any pullback ; TP : 125.20 (+130pips) ; SL previous low.
Risk Reward 1:3.5
Always remember to trade with stop-loss, market is crazy & cunning*
Trade active:
+50pips now, the x6 retest of this are. Will it break above? lets see.
Trade active:
Holding a +100pips, target is near.
Trade closed: target reached:
TP hit as per analysis. Pips banked !
