Buy above 101.70. Stop loss at 100.55. Take profit at 103.00
Reason for the trading strategy :
Price has bounced up really nicely as expected since Friday. We are halfway towards our profit target. We look to buy on weakness at 101.70 to add to our position for a further rise to 103.00
101.70 is a strong support level (Fibonacci retracement + graphical overlap support).
RSI (21) has also made a really nice bullish exit triggering a further rise from here.
Reason for the trading strategy :
Price has bounced up really nicely as expected since Friday. We are halfway towards our profit target. We look to buy on weakness at 101.70 to add to our position for a further rise to 103.00
101.70 is a strong support level (Fibonacci retracement + graphical overlap support).
RSI (21) has also made a really nice bullish exit triggering a further rise from here.
Exness - USDJPY remains bullish above our support
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