EUR/JPY Set-Up

Happy Saturday traders,

Lets jump right into EUR/JPY! This pair has made a 165 pip rally to the upside at the end of last week
and it's starting to setup for a retracement. We are anticipating this pair to continue up about 20 more pips
to the 122.000 key level marked on the chart before seeing this expected move to the downside. This level
has been a magnet for price and has been tested multiple times in the last 2 months and we have marked
these tests with the downward pointing arrows.

Using the Fibonacci tool we can anticipate a nice take profit area around the 38.2% level
which also lines up with an intra-day support level. Looking at the daily TF you can see a bullish structure,
so the 38.2% retracement level will most likely be an area for the market to stabilize for the next rally to
break ATH's.

You can take all of our trade setups in our free trading community on telegram here: https://t.me/joinchat/AAAAAFfvQRlRGCaA-ptLPw

Happy trading from the TopRatedFX team!

This is not financial advice. Trading involves risk to capital.