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24.03.2017 05:15 PM
EUR/JPY profit target reached, prepare to buy

The price has shot down and reached our profit target. We prepare to buy above major support at 119.15 (Fibonacci extension, Fibonacci retracement) for a bounce up to at least 120.33 (Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,5,3) is seeing strong support above the 4.2% level and also displays bullish divergence versus the price.

Buy above 119.15. Stop loss is at 118.54. Take profit is at 120.33.

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