Outside Bar on EUR/JPY

Outside Bar on EUR/JPY

At the moment on the EUR/JPY currency pair, the bullish sentiment is prevailing. The quotes have the potential for further growth. A classic pattern of the Price Action, Outside Bar, (H4 timeframe) was formed in the trading instrument. The price has reached the key resistance of 134.400. It is necessary to pay attention to this situation.

If the price fixes above the mark of 134.400, we recommend considering buying EUR/JPY. The immediate goal for profit taking is the round level of 135.000. In the medium term, the EUR/JPY currency pair may reach 136.000-136.500. Confirmations and entry points to the market should be looked for on the lower timeframes. When tracking the position, we recommend using a trailing stop.

by JustForex, 2017.10.25

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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