Price is currently in a range. A range ranging strategy will be used to trade this pair. Buy at support with oversold stochastic, OR Sell at resistance with overbought stochastic.

EURJPY Daily

Price is currently at MS2 @118.5 support and moving above towards MS1 @120. Price has bounced previousy [email protected] in Nov 16'. And may possibly hold as strong support.

EURJPY H4

Price is above WPP which would possibly inidcate an upward move towards either WM3 or WR1. there is strong resistance at WM3. Mid point psych in price of 119.5 may be the possible bulls traget.

EURJPY H1

Possible pullback from WM3 with price to maybe bounce at WPP for bulls to buy further up into WR11 profit target. Bulls will possibly enter at the 38.2 Fib to push price up towards WR1.

One thought on “EURJPY Buy 280217”

  1. Ryan Gandalf van Jaarsveld says:

    Hey Dumi

    Your trade plan makes sense for an entry at that 50% at H1 which I see has already been entered by bulls during Asia. I would like to see a break of 119.50 and then look to buy the pullback to 119.50 as support. Entry at WM2 looks good though daily is indicating lower lows. Having said that we are at the monthly target and it is the last day of the month. Bulls have a target of 120.50 and bears are targeting 117.50/ 117.

    Best
    Ryan Gandalf van Jaarsveld
    skype Ryan.Gandalf
    e-mail [email protected]
    Coach MetaTraders.com
    Analyst Forex.Today

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