On the EURJPY chart, we can see that the pair is testing the 61.8% Fibonacci retracement 128.758 level of the previous 600 pips swing lower. This level needs to hold for the downside continuation. In case of the daily close above the 129 level we could see a deeper pullback into the 130-131 zone.
Note: look for the short trade entries for now with the stop loss above the 129.300 level.
Through time we have developed a very respectable trading strategy which defines Entry, Stop loss and Take Profit levels with high accuracy and allows you to make position risk free. We are publishing daily and weekly analysis and 5-10 trade alerts per week directly on your mobile device via Private twitter feed and Private Telegram group!
