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.
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EURJPY has taken a big hit this week, it has been dropping rapidly, however it has reached a major support zone and seems to be being held up due to the bounce it had when price hit the zone.
What we think will happen next depends on the next movement in price, if it breaks above the resistance zone marked on the chart then we will see some bullish movement to...
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.
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.
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
Currently have what looks like a retracement on the downtrend with EURJPY, up to the 50% zone. It is also sitting around a support / resistance at this level too, there is the potential for a head and shoulders pattern to complete, with indicators showing the bull power slowly running out. This could start the final leg of the right shoulder. I will be waiting for...
We have a potential Head and Shoulders pattern forming on this pair, with the right shoulder forming and ending at around the monthly support of 131.000 level. This would coincide with a large demand area for the pair to then turn bullish and begin climbing to the upside. If it breaks the daily pivot level of 132.665 and closes under it I will look at shorting...
Currently rejecting 0.382 Fib level at 132.213 and I think this level is going to hold, potential short with an entry around 132.000 and if price holds out past daily trendline then this pair could continue to melt down to 130.400 area.
Currently EURJPY is sitting in a wedge on a 4 hourly chart, had a bit of a fakeout last night with it breaking and re-entering the wedge. I will be sitting patiently to see where this heads as I will want it to break out of the wedge clearly and begin shifting strongly in a direction before I make any moves on this pair.
Monthly - we can see some reasonably bullish price action with the MA's converging to cross. Showing a longer term bullish direction
Weekly - It's the first time in around 12 months that the weekly price action has managed to close above 124.00. Price action is above the MA's; which are crossed to the upside.
Daily - We have had a morning star formation at...