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EUR/JPY Trade

Posted on Dec 7th, 2015

by colibritrader

Dear EUR/JPY Trade Followers

The trading idea from last time might have stopped some of you out- depending on where exactly you placed your stop-losses. I personally took a loss before price touched the stop-loss level, because I wanted to take advantage of another trade. However, the price has soared today more than 120 pips. It wasn’t the cleanest break-out I have seen, but it definitely was powerful. For the ones of you that are still in this trade- there is no reason to take profit now.

Today’s trade idea is coming from another pair- EUR/JPY. After the huge move in all Eur-pairs, today I am spotting a good long opportunity in the EUR/JPY pair. After two sessions of a small retracement, the pair has formed a daily pin bar. It has formed just above the support level of 133.200. I am looking to enter in a long trade around the level of 133.70 with a stop-loss just below 133.15. The first price target is at 135.00 and then it depends on price action.

Happy Trading,

Colibri Trader

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