EURJPY 13072016

Sell @ Market (115.60), SL @ 116.50, TP 1 @ 114.60. TP 2 @ 112.80

I believe this upward price movement is due to profit taking and had over extended. In the USDJPY chart below, price has hit 200 SMA and you can see that it has shown some respect to the resistance.

USDJPY 13072016

Once the trade is 40 pips in your favour, move SL to BE.

TP 1 is suitable for day trading.



Posted on July 13, 2016, in Others. Bookmark the permalink. Leave a comment.

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