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EUR/JPY Buy Trade Setup in 4 hours chart

Monday, March 20, 2017 11:25
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(Before It's News)

eur-jpy-buyTrend is bullish in four hours chart. Critical support is present at 118.22 price level. Currently; the price of EUR/JPY currency pair is falling down to print bearish Wave c leg which is going to complete a Zig Zag Wave X pattern. A good suggestion is to wait for the Wave X to first complete and then look for a buy trade to join an up trend.

However; if market closes a bearish candlestick below 118.22 important support area then bullish trend will end. In such case, I will stop myself from trading and re-analyze the price chart of EUR/JPY currency pair.



Source: http://fxinstructor.com/blog/eurjpy-buy-trade-setup-in-4-hours-chart-2

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  • Ahmed

    Trading on EJ is bit too risky, at the moment. It is better to go for long term if we want to trade on this. I am working with OctaFX broker and with them; it’s ever easy with their swap free account which keeps it all good for me. I don’t have to worry much about paying overnight charges and any such issue, so that really keeps me comfortable and relaxed with doing things. I like their 24/5 support service as well.

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