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Trade ideas for EUR/JPY

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Trade ideas

BUY 122.30; TP 122.75; SL 122.20

SELL 122.05; TP 121.75; SL 122.15

EUR/JPY formed a “hammer” candlestick on D1. This is a sign of a potential short-term correction to the upside. Notice though that you have to be careful with a counter-trend trade like this as bears still dominate the market. Buying is possible above 122.30 with a target at 122.75 (the declining resistance line). If EUR/JPY falls below 122.05, it will likely revisit the recent low.

EURJPY 30.png

FBS Analyst Team

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