EUR/JPY Forecast: Tempting to buy

EUR/JPY forecast 2nd April, 2015

EUR/JPY is one of the most exciting pairs during 2014 and 2015. This pair moved within +2000 pips in less than 6 months drived by the EUR/USD and USD/JPY moves. Personally, I watched this pair and could not take the risk to trade it during the last 3 months. The risk was extremely high and the moves were wild like the angry volcano. However, these days I feel that it is the time to take some risk and jump into action. We had 3 weeks of bullish moves and this is a well-defined support around 126.89 level. With the Non-farm payroll tomorrow, I can tell that we are about to see a real trial to test strong resistance like 135.40

As I mentioned before on this USD/JPY reviewNon-farm payroll expectations are high. On 3rd April, 2015, everything will be clearer than now. Let’s take some risk and see how it goes tomorrow!

The EUR/JPY has the following major resistance and support levels:

  • RESISTANCE: 135.40
  • SUPPORT: 126.89

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (50 pips stop loss applied):

  • Sell: at 128.10 – Take profit 127 (110 pips profits)
  • Buy: at 129.6 – Take Profit 131.6 (200 pips profits)
  • Buy: at 130 – Take Profit 131 (100 pips profits)

This review is valid during trading week(s): 2nd-10th April, 2015

2 thoughts to “EUR/JPY Forecast: Tempting to buy”

  1. Hi Karim
    I was copying you ‘Tradeo’ and still have an open buy usd/jpy trade from 120.704
    I would be happy if it went up but can I not see a ‘double top’ in the H4 chart?
    Forgive me for being a beginer.
    Peter Millington

    1. Hello Peter,
      Do not worry and do not ask for forgiveness, you are welcome to discuss with me anything related to my reviews and trades. Related to your position, It will come up and if it does not. If you are copying me, I will handle the trade with hedging till it comes up. USD/JPY still has a big chance to come up again after the NFP.

      Karim El Bawab

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