EURJPY - long

FX:EURJPY   歐元 / 日圓
A double bottom occurred some days ago: confirmed, because it closed on daily above the horizontal line (note that it is more clear on a daily scale).

Later, however, the pair went down. Please note that this happens very often in this type of pattern and it does not mean you should become suddenly bearish . So if you did not buy when the double bottom confirmed, you have an even better oppurtunity to do it now (the price is after all much lower).

In addition, on a 1h scale we can see a breakout of a trend - bullish!

Put a stop loss a few pennies below the lowest of the bottom, and take profit at 134.20 - level. So the (potential profit)/(potential loss) ratio is very high here.

PS. Visit us at http://www.lookintotrade.com for more signals!

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