FX.co ★ EUR/JPY Trading Recommendations for 8th August 2016

Price bounced above our channel support as expected. We remain bullish above 113.00 for a further rise to 114.75.

We can see price crossing above the thin descending green line signalling a bullish recovery is approaching.

Stochastics (21,5,3) has made a bullish exit from its long descending resistance-turned-support line. It also displays bullish divergence vs price signalling a bullish move from here.

Trading Recommendations :

Buy above 113.00.

Stop loss 112.20.

Take profit 114.75.