USDJPY profit target reached, time to turn bullish
Buy above 113.06. Stop loss at 112.58. Take profit at 113.82.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target from yesterday. We now turn bullish above 113.06 support (Fibonacci retracement, horizontal support) for a push up towards 113.82 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (21,5,3) is seeing strong support above the 8% level and is turning up.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target from yesterday. We now turn bullish above 113.06 support (Fibonacci retracement, horizontal support) for a push up towards 113.82 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (21,5,3) is seeing strong support above the 8% level and is turning up.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.