Buy above 113.00. Stop Loss at 112.20. 1stTake profit at 114.05, 2ndTake profit at 114.65.
Reason for the trading strategy (technically) :
Price is rising as expected towards our target. 113.00 remains the key level to buy above (horizontal support + Fibonacci retracement). We highlight a new risk level to take 50% profit on which is 114.05, which we move the stop loss to breakeven if it reaches this level and play the further rise to 114.65.
RSI (21) has reacted off 90% and as expected, has bounced off our pullback support showing a rise is resuming in price again.
Reason for the trading strategy (technically) :
Price is rising as expected towards our target. 113.00 remains the key level to buy above (horizontal support + Fibonacci retracement). We highlight a new risk level to take 50% profit on which is 114.05, which we move the stop loss to breakeven if it reaches this level and play the further rise to 114.65.
RSI (21) has reacted off 90% and as expected, has bounced off our pullback support showing a rise is resuming in price again.
Exness - EURJPY rise in progress, now on buying level
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