15.02.201312:56 Forex Analysis & Reviews: EurJpy Approached Trendline Support Near 123.00. A Bullish Bounce Here, Favors Longs

Long-term review

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Technical Outlook and Chart Setups:

As seen on 4H chart view here, the single currency pair consolidates between 123.00 (support range) and 127.00 (resistance range). Furthermore, an intermediary line of support is passing right through the 123.00 region at the moment. A bullish bounce here shall enable / trigger further rally towards fresh high. 121.00 is immediate support while the 127.90/128.00 region is resistance. It is recommended to go long again if a bullish bounce occurs on the trend line.

Trading Recommendations:

Go long again on a bullish bounce now. Stop is at 123.00, target 129.00

Good Luck !

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