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EURJPY: Retraced a little, but still in a bullish market condition

Even though the EURJPY retraced from 132.59 to 131.82, it is still in a bullish market condition. It broke an important short term resistance level during the European session, so I’ll be looking for a long trade opportunity:

EURJPY

EURJPY

Here is my trading plan:

As long as the EURJPY trades above 131.90 I will be looking for long trade opportunities. My next LT resistance level is at 135.20 (we could see some resistance around 134.30 though).

If the market breaks the 131.90 down, I will be in the sidelines.

Trade Safe!
Raul Lopez

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This entry was posted on Tuesday, December 29th, 2009 at 9:29 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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