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Monday, July 17, 2017

EUR/JPY: Long Position Opportunity in Low Volatile Market

There is long position opportunity in a low volatile moment for EUR/JPY. 

EUR/JPY is technically going to retrace and enter the yellow zone as shown in the following illustration.

We are looking forward to exiting the market at below 129.142. Shall EUR/JPY breaks above 129.142 then there is a possibility that the pair might try to reach 129.401.

However, shall EUR/JPY breaks below 128.638 then retracement scenario might be failed to happen for today.

In this case we will try to exit the market as soon as possible to minimize loss.