Monday, June 15, 2015

EURJPY Buy Recommendation June 15th 2015

Currency Pair: EURJPY
Timeframe: Hourly Chart (H1)
Recommendation: Buy EURJPY @ 138.800
Take Profit @ 140.800
Stop Loss @ 138.000

The EURJPY is trading around its support level with brief spikes above and below it after the Euro weakened over the past few trading sessions which dropped this currency pair to its current support level. I expect the volatile trade above and below support to continue until the next move can unfold.

I  expect a short-covering rally after a breakout above support and took my long positions in the EURJPY a few moments ago. Despite the volatility, an ascending support level is visible below its support level which gives us a solid bullish trading signal.

 PaxForex

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