EURJPY Free Forex Trading Signals – 3rd April 2017
EURJPY has been bearish on the H4 chart. The pair is having upside correction on the H1 chart now. There is a possibility that the pair would try to make a new lower low later today. Let us find out the levels to watch for to ride on that potential sell move.
This is the H1 chart of EURJPY. The pair made a break at 119.100, which was an important level of support. The price has been going towards the North by obeying a Trend line. Most probably, the price would go up to 119.100. If it really does and be the level be the level of resistance by producing an H1 reversal candle, then we should wait for a breakout at the Trend line. Actually, I should call it the anti Trend line here. Once there is a breakout, the confirmation, then selling the pair would be the best option for EURJPY traders as far as H1, and H4 charts are concerned.
- Sell Stop Order: 118.914
- Stop Loss Level: 119.100
- Take Profit Target: 118.400
This trade setup is based on ABC trading pattern. Traders often have to find out their trading opportunities on ABC trading pattern. Especially Mondays seem to offer entries on ABC trading pattern. No doubt, this is one of the most reliable patterns to take entries on. However, we have to be spot on setting our Take profit. The price often moves towards the opposite abruptly after hitting the target.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: EURJPY Free Forex Trading Signals – 3rd April 2017
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