EURJPY: 120.00 Support and New Trade Opportunities
You can add this market to your watch list as it will provide a trade opportunity soon.
The price reached the support zone at 120.00 level. The price action in this zone will be able to give us a buy signal if the price bounces from the support. Search for better entry points using the hourly charts.
If the price breaks the support zone, it will be a sell opportunity in the direction of a new downtrend. It will be possible to open sell trades using the daily and hourly timeframes.
All trades must be used with stop orders and the proper trade volume. Place stop orders above the previous swing highs for sell trades and below the previous swing lows for buy trades. Profit targets should be at resistance and support levels.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The price reached the support zone at 120.00 level. The price action in this zone will be able to give us a buy signal if the price bounces from the support. Search for better entry points using the hourly charts.
If the price breaks the support zone, it will be a sell opportunity in the direction of a new downtrend. It will be possible to open sell trades using the daily and hourly timeframes.
All trades must be used with stop orders and the proper trade volume. Place stop orders above the previous swing highs for sell trades and below the previous swing lows for buy trades. Profit targets should be at resistance and support levels.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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