Trade Ideas & Trading Levels – Japanese Crosses in Focus
I'm seeing good potential in the Japanese pairs, specifically EUR/JPY and GBP/JPY. Both of these pairs are trendy and as we know the trend
I'm seeing good potential in the Japanese pairs, specifically EUR/JPY and GBP/JPY. Both of these pairs are trendy and as we know the trend is our friend. Let's take a look at major trading levels to position ourselves in a running trend.
EUR/JPY – Trading Levels
Support Resistance
S1: 130.93 R1: 131.50
S2: 130.76 R2: 131.67
S3: 130.48 R3: 131.96
Key Trading Level – $131.22
EURJPY Trade Plan
Currently, I'm looking at the area below $131.650 to sell with a target of $130.850.
GBP/JPY – Trading Levels
Support Resistance
S1: 141.76 R1: 142.72
S2: 141.46 R2: 143.02
S3: 140.98 R3: 143.50
Key Trading Level – $142.24
GBPJPY Trade Plan
The idea is to sell GBP/JPY right now at $142.750 with a target of $141.550 and a stop loss of $143.250. Good luck!
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