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EUR/JPY

EUR/JPY

Thomas Long, Course Instructor

Quite often, simple support and resistance can offer a good entry and protective stop level. A move down through the 108.692 acts as a certain level of confirmation of the downtrend and a good place to sell. Protective stops could then be placed above the buy side high of 110.331 as shown on the chart. Targets to take profits should be set at twice that risk for a 1:2 risk:reward ratio.

eurjpy 0608

 

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