EURJPY Technical Overview And Trade Opportunity
EURJPY made the double top and rejected 127.000 and headed south. We have published our forecast a month ago.
We enter a short trade here with long term purposes:
Our Entry: 126.000
Stop Loss: 127.000
Target 1: 125.400 ( We plan to add short after daily closing below 125.400 )
Target 2: 124.400
Targets 3: 123.000
Ultimate Target: 121.300
This is a long term trade setup. There will be correction levels and we may use them for long opportunities. We will publish potential pullback patterns for the members.
Update: We have reached our first target. We keep our positions. We will add short if the pair makes Daily Closing below 125.400. We do not see any major reversal pattern to use for a long trade.
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
EURJPY: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility