A day before, our forex trading signal on EURJPY went really well. Thanks to Carles Puigdemont who disappointed to abandon the region’s push for independence which lead to a sudden weakness in Euro. I'm seeing another setup on EURJPY. Let's take a look at it.
Technical Overview – EURJPY
EURJPY reversed dramatically after hitting our target of $132.600. Taking a look at 3- hour chart, the pair has broken above the bearish trend line at $133.400. At the same level, the pair formed a double top pattern which is now violated. It's clearly signaling the bullish bias of the investors.
EURJPY – 3 – Hour – Bullish Breakout ?
The leading indicators are holding above 50, the bullish zone. It means there is still room for further buying.
Support Resistance
132.69 133.84
132.00 134.30
131.54 134.99
Key Trading Level: 133.15
EURJPY – Trading Plan
The idea is to stay in buying above $133.250 and $133 with a stop below $132.750 in order to target $134.250. Good luck!
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