I think this chart shows everything well. We have a nice upwards channel that has formed and in the previous moves the past resistance has been respected as the new support. The lower trend line also seems to act as a nice point of support.
My prediction is that price will come down once more to find support in the S/R area at around 121.200 and on the trend...
Large rising wedge being formed. looking to enter on the pullback up to the current resistance which correlates to our 50day MA. Therefore if we see a rejection then we will enter shorts, expecting price to break from the larger structure as well.
50day MA rejection
Support area rejection- this is the 50% fib retracement from the downtrend starting in April 2019
continuation pattern forming- price created a new daily low to help form this pattern
EurJpy has been travelling comfortably in a descending channel. Price jut hit the bottom of the channel and formed a double bottom, further confirming a long opportunity.
ENJOY YOUR PROFITS, STOP LOSSES AND TAKE PROFITS ARE AVAILABLE...
EURJPY has been travelling in an ascending channel ever since the large drop on all fx pairs, It recently broke out of the channel to the downside and has come back up to retest it.
We expect price to now drop to the -0.27 extension level after testing the descending trend line.
EURJPY has been travelling in an ascending channel ever since the huge drop on the majority of the fx pairs. Not much to be said apart from the doji candle and bottom of the channel has been hit, indicating price will make its way back up to the top of the channel
IF PRICE HITS STL , PRICE WILL MOST LIKELY FOLLOW THE RED LINE.
Once again guys, we have another beautiful set up here.. oh btw, if you don't follow me already.. HIT THAT FOLLOW BUTTON.
Right,Right.. Let's dive into the technicals. We have a nice Bullish run before price reaches that point of resistance where price starts to retrace bearish. As you have probably gathered, my strategy is simple and I would recommend everyone...
Price has been travelling in a large ascending channel, we experienced a fake out to the downside, price made its way back into the channel annd shot up all the way up to the previous resistance point which is quite significant. We saw a major drop the last time we were here, can it happen again down to the bottom of the channel?
We believe so...
EURJPY has been travelling in an ascending channel ever since the extremely sharp drop on nearly all fx pairs, We have recently saw a breakout of this ascending channel to the downside, we are in the process of a retest of the channel now, so expect to see some large moves down unless price moves back into the channel and forms and inside retest.
The common European currency depreciated about 237 base points against the Japanese Yen on Friday. The pair tested the lower band of a medium-term descending channel pattern at 123.82 during Friday’s trading session.
Technical indicators flash sell signals on both the smaller and the larger time frames chart. Therefore, the EUR/JPY exchange rate could edge lower...
EURJPY has been travelling in an ascending channel ever since the large drop on all fx pairs.Price is currently at the top of the channel and is also inbetween the 0.50 -0.618 retracement zones which is a golden reversal point.
SL AND TPS are marked out on the chart above ,Potential reversal scenarios are also marked out above. If price breaks out above the...
I will present this opportunity in a simple way and clear!
EUR JPY has been creating HH and LH , from the 3 week of the year. That been said, we simply are applying a ABCD.
Possible C 125.027, where the 61.8 % fib is located
and the possible D 126.372
I hope this that help you guys.
All the best