Long-term EURJPY has broken out on the monthly, and last week on the weekly as well. Quite a potential initial movement here, let's see if it extends.https://www.youtube.com/watch?v=32k84Kio9Rs
Hi NeverNO, in my opinion there is no indication for it to go to 120 right now. If those high levels of right now dont hold there might be a reversal. But I dont predict like you, I follow the price. Its my main indicator and ittells me that the EURJPY just hit a new breakout Long and might just be starting a new move. What you look at as a divergence is Momentum that hasn't had the time to pick up speed to increase above the Momentum peak in the beginning of 2017.
NeverNO
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EURJPY
As soon as again is going over the june-high first TP 129,69, afterwards correction (tenkan/kijun as support in daily) and again rising ... to TP 130.99, this level could also remain as the quartals / year high (SMA 50 in monthly).
Look monthly: big picture ... this could be the wave 4 (within a triangle)....
For this scenario, there is only one condition: if there is no closing price - on the daily basis - over 132.34 (this year), then EURJPY will fall to form the wave 5 (all JPY-pairs too) ...
In that case, to the end of september (october) should be possible to reach the first TP down @ 120.94, but the wave 5 Should extend to 106.79 (next year)...