Facts
The pair bounced off the key support zone at 168.00
Short-term trend from the beginning of June remains upward
Recommendation:
Trade: Long position on EURJPY at market price
Target: 169.60, 170.16
Stop: 167.70
Opinion: EURJPY reached the key technical support at 168.00 yesterday. The price bounced off the lower limit of 1:1 structure, signalling that the short-term trend remains upward. The aforementioned support at 168.00 is also a result of a previous price reaction, 100-period moving average from H1 interval. According to the Overbalance methodology, as well as the price sits above, the main trend remains upward. We recommend going long EURJPY at market price with two targets: 169.60 and 170.17. We also recommend placing a stop loss order at 167.70. Source: xStation5
