I've been watching EURJPY as its approached a significant trend line and this line has now broken and with the aid of several 200 sma on maller time frames supporting - this looks a reasonable BUY trade.
My in-house indicator is also flagging this as a moderate BUY.
I have a STOP at 166.66 and a TAKE PROFIT at 118.26.
EUR is mildly BULLISH across the board so I'm hoping I can get this trade to BREAK EVEN to lock in a free trade.
More on my website.
Trade closed: stop reached:
Well. Price advanced quiet nicely and we were 5 pips away from moving the STOP to B/E but then the EUR dipped across the board and pushed the price down to my STOP so a failed trade. The trend line indicated remains a point of interest and if price clears this hurdle and remains above, I'll be looking for a BUY trade.