EUR/JPY -51

trade set up is based on technical perspective. Slow Stochastic are crossing on 4h chart and indicating on move higher, and Fib. retracement of 110.73( 50%)of (113.40 - 108.06 move)should serve as support. US markets are indicating higher open and that factor should go in favor of our trade. Last week low is at 110.85, and that should be additional support. Keep in mind that most of the markets are in risk aversion mode, so move lower would not be surprising. Risk to reward looks good, so the trade is worth it. Stops should be lower than recent lows and support levels. (bellow 110.60), and targets should be 112.00 and higher.
Watch out for USD news (new home sales), only better than expected would boost the Euro, otherwise we are going to find out how solid is the current "floor" in this pair.