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theforexarmy

EURJPY profit target reached perfectly, prepare to sell

Short
Euro / Yen giapponese (FX:EURJPY)  
theforexarmy  
FX:EURJPY   Euro / Yen giapponese
EURJPY eurjpyshort eurjpydaily eurjpynews eurjpylong eurjpyidea eurjpyoutlook eurjpysignal eurjpytrade eurjpyweekly
3
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eurjpy eurjpyshort eurjpydaily eurjpynews eurjpylong eurjpyidea eurjpyoutlook eurjpysignal eurjpytrade eurjpyweekly
Sell below 121.09. Stop loss at 121.86. Take profit at 119.65.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We now turn bearish below 121.09 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to 119.65 support (Fibonacci extension, horizontal support, recent swing low support).
Stochastic (34,5,3) is seeing resistance at the 92% level.

Idee correlate

theforexarmy
EURJPY right above strong support, remain bullish
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