Buy above 129.66. Stop loss at 128.53. Take profit at 131.95.
Reason for the trading strategy (technically):
EURJPY is seeing strong support at 129.66 (Fibonacci retracement, Fibonacci extension, ascending support) and a strong bounce could occur at this level to push prices all the way up to our profit target level at 131.95 (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing strong support above 4.7% where a corresponding bounce could occur and push prices up.
Reason for the trading strategy (technically):
EURJPY is seeing strong support at 129.66 (Fibonacci retracement, Fibonacci extension, ascending support) and a strong bounce could occur at this level to push prices all the way up to our profit target level at 131.95 (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing strong support above 4.7% where a corresponding bounce could occur and push prices up.