EURJPY whipsawing a lot, remain bullish for a reversal

Buy above 131.73. Stop loss at 131.33. Take profit at 132.38.
Reason for the trading strategy (technically):
Price is whipsawing a lot due to volatility. We remain bullish above 131.73 support (Fibonacci extension, horizontal support) for a push up to at least 132.38 resistance (Fibonacci retracement, horizontal overlap resistance, bullish divergence).
Stochastic (55,3,1) is seeing nice support above 3.1% and also sees bullish divergence vs price signalling that a bounce is impending.

Trade geschlossen: Ziel wurde erreicht:

Money in the bag once again! Whoo! It certainly did whipsaw as expected but finally bounced to our profit target ;)

Kommentar:

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