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EURJPY: Bullish, and looking for long opportunities

The EURJPY traded for a few days in a range in between 132.78 and 134.40, it was a pretty defined range, but it only had around 160 pips in between, making it hard to find good swing trades. However, the EURJPYalready broke the top of that range. Take a look at the next chart:

It is trading above that range and it will probably continue its way up until the next long term resistance level is reached.

My Trading Plan:

As long as the EURJPY keeps trading above 134.40 I will be looking for long opportunities and will target the next resistance level around 137.42.

All short opportunities will be ignored.

Good luck

Raul Lopez

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This entry was posted on Friday, August 21st, 2009 at 3:35 pm and is filed under Technical. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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