EURJPY Patterns are aligned, momentum is there
Pros
-Some bullish patterns are showing on the charts. (Falling wedge pattern showing a bullish continuous pattern and reversed head and shoulder pattern showing at the area of support which is the 61.8 fibonacci retracement area)
-Price has touched an area support which is the 61.8 fibonacci area
-There is a divergence occured between the price and the stochastic oscillator
Cons
-Entry trigger which is the candlestick pattern is not clear
Action
- Going long, placing stop loss below the 61.8 area and target around 1:1 risk reward ratio
-Some bullish patterns are showing on the charts. (Falling wedge pattern showing a bullish continuous pattern and reversed head and shoulder pattern showing at the area of support which is the 61.8 fibonacci retracement area)
-Price has touched an area support which is the 61.8 fibonacci area
-There is a divergence occured between the price and the stochastic oscillator
Cons
-Entry trigger which is the candlestick pattern is not clear
Action
- Going long, placing stop loss below the 61.8 area and target around 1:1 risk reward ratio