EURJPY has closed above weekly support area at the price of 122.50 for the six consecutive weeks. I am expecting an upside for this pair to next weekly resistance area.
Reason : - Weekly candlestick has struggled to go below 122.50 leaving long tail below. - 123.30 area was previous resistance now support. - Higher high formed, hinting the start of wave-2 motive. - Potential to reach next resistance points :
Entry point Long : CMP or any pullback ; TP1 : 125.90, 126.50, 127.20 128.40 ; SL 122.25 area.
Risk Reward 1:2.3 Always remember to trade with stop-loss, market is crazy & cunning*
Trade ist aktiv
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Entered my trade at day low, let the game begin.
Much patience is needed for this trade, good luck.
Kommentar
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TP1 hit (+180pips) gained, closed some profit.
Awaiting pullback to enter more to next target.
Kommentar
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Price rallied another +100pips in less than 5-hours, currently holding +280pips gain since trade inception. Very strong bullish momentum