Hard Luck with EUR/JPY – Bullish Breakout On the Cards!
In the absence of economic catalysts, the noise traders are taking control of the market, causing sudden and uncertain fluctuations. Same happened with our EUR/JPY trading signal. The pair continued to trade in profit, but all of a sudden, it dipped to hit our stop loss before coming to profit again. Anyhow, it’s part of a business. Are you ready for the next trade?
- On the hourly chart, the EUR/JPY has come out of the sideways trading range of 127.350 – 127.725.
- The leading indicator is trading in a buying zone (above 50), which is supporting the bullish trend of the pair.
- EUR/JPY is trading above 20 & 50 periods EMA, which is signaling another reason to stay bullish on the pair.
- The pair can face an immediate resistance near 128.375, while support prevails at 127.725.
EUR/JPY – Trade Idea
I will wait for the EUR/JPY to test and close candles below 128.375 in order to open a sell position for quick 50 pips. While keeping the stop loss at 128.600.
Good luck!
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
Comments
Subscribe
Login
0 Comments
Oldest