Potential Long Position for EUR/JPY_Trade Plan 2017.06.20

Jun 20, 2017

Both D1 and H4 show the overall trend is still up.
Price formed false break out last Thursday and rejected up from major D1 support area 122.807-123.638.
Currently in H1, after the first try to breaks above resistance area 124.355-124.471, price pull back and coming back down below it.

Trade Plan 1:
If price continue pull back lower to the confluence of support area 123.724-123.863 (Price Structure and MA200) and rejected up, long the market to follow the overall uptrend.
For day trade, with Stop Loss 22 pips and Target Profit 60 pips, the potential trade offers 2.73 Reward-To-Risk Ratio.

Jun 21, 2017

Trade closed manually

Close partial position around 2R profit