Trend supports further gains for EURJPY
The rejection of levels below the trend of higher daily lows, and above the 100-day moving average, continued yesterday. Net upside was posted for a third day in a row and although the speed and scope of the gains means intraday sentiment is overbought, setbacks are currently finding fresh demand with momentum and strength indicators also supporting.
Management and risk description
A move above 135.94 means the risk level can be raised to break even.
Entry: 135.60/65 area and dip to 135.21
Stop: 134.85 offered
Target: 135.94, 136.27 or even 136.61
Time horizon: Ending Monday June 1
Bought at trend
— Edited by Gayle Bryant