EURJPY Buy Stop. Looking For Bounce Higher.

Attempting to capitalize on a possible bounce higher in EURJPY without being committed in case price falls further.

We've hit the support zone again. Stochastic is oversold, and has been for a while now; however, in case the support zone does not hold, we have at least some protection by trading this with a buy stop limit order.

Target is tentative. Will look to move stop to breakeven as soon as possible since further downside in the Euro is possible.

Comment:

The buy stop was triggered, and price continued higher. Seems to have stalled a little for now.

Moved stop to breakeven for a risk-free trade.

EUR got some breathing room, but I am not sure how long that will last.

Trade closed manually:

Price came very close to hitting my target. Today is the Fed interest rate decision, so ahead of that and any excess volatility, I closed the trade to secure my money.

80 pip profit.

Trade closed: target reached:

Target reached.