Home > Uncategorized > EURJPY 5 mins (-19 pips)

EURJPY 5 mins (-19 pips)

Reasons that increase probability of trade to me:

1) Daily pivot point is 118.00, i.e. market is bearish now.

2) Price @ EMA 62,

3) Stochastics Xover,

4) USDJPY also @ EMA 62 with round number resistance level 82.50 just above EMA62, double resistance.

Stop loss above 117.50, although to me the round number on the EURJPY is not as significant as the USDJPY’s.

Target profit @ 117.05, to get out before round number is hit.

R:R is about 1:1.8.

Fingers crossed.

Subsequent Update

Craps..

Bah. Stopped out again. Back to back again. Bad start to the week..

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