EURJPY has been heading towards the North with a good pace on the H4 chart. Friday’s daily candle ended up with a strong bullish tone. The price action suggests that the buyers will be looking to go long on its weakness. There is a level nearby where the price made a breakout. It might come back to the level and head towards the North again by offering a long entry. Let us have a look at the H4 EURJPY chart. This is another trade idea generated by the Elite Swing Trader.

The level of 121.950 is the level where the price might come up to. If the level is held and produce an H4 bullish reversal candle followed by an H1 breakout at the level of 122.230 would push the price to go towards the level of 122.730 without having that many pauses. Let us have a look at the summary of the trade...

• Buy Stop Order: 122.307
• Stop Loss: 121.879
• Take Profit: 122.632

The price has not started having a correction yet. In fact, it might go further up a little. Thus, it might take some time for the price to come at the support level that I have spotted here. There is even a possibility that the signal might come tomorrow. As long as the spotted support level is held; it produces an H4 bullish reversal candle and an H1 breakout at today’s higher high (today’s higher high may be changed as well), the trade setup will remain valid. Click Here to learn more about Elite Swing Trader

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