Technical Analysis
Let do a complete breakdown to see what the market give us
From the above weekly chart we could see that after the price brokeout from that level the price has now come back to that level serving as a support level for now. So watchout for a pullback
From the daily level the price is making higher highs and higher lows. Price respecting the daily trendline and since the price has tested the trendline the price is likely to move up.
Order Flow analysis
From the past 1month the commercial traders and hedge funds has been more short to the Yen. Currently the Yen is setting on -80k net position. This makes Yen weak also on Euro they are closing short and slightly adding long. Since euro is getting stronger and yen is getting weaker EURJPY is likely to move up from here
DISCLAIMER: This analysis can change anytime without notice and it's only for the purpose of assisting traders to make independent investments decisions. Please this is a PREDICTION and I have no reason to acts on it and neither should you
Let do a complete breakdown to see what the market give us
From the above weekly chart we could see that after the price brokeout from that level the price has now come back to that level serving as a support level for now. So watchout for a pullback
From the daily level the price is making higher highs and higher lows. Price respecting the daily trendline and since the price has tested the trendline the price is likely to move up.
Order Flow analysis
From the past 1month the commercial traders and hedge funds has been more short to the Yen. Currently the Yen is setting on -80k net position. This makes Yen weak also on Euro they are closing short and slightly adding long. Since euro is getting stronger and yen is getting weaker EURJPY is likely to move up from here
DISCLAIMER: This analysis can change anytime without notice and it's only for the purpose of assisting traders to make independent investments decisions. Please this is a PREDICTION and I have no reason to acts on it and neither should you
Trade active:
Trade open
Risk/Reward Ratio: 4.0
Risk/Reward Ratio: 4.0
Comment:
Boom Confirmed breakout ✔✔
Comment:
Still holding long. EURJPY running +180pips.
Safe trades
Safe trades
Watchout for the bullish breakout🚀