APInvestment
Long

EUR/JPY ANALYSIS - DAILY TIMEFRAME

FX:EURJPY   Euro / Japanese Yen
Here we have a nice simple setup on EUR/JPY             . This pair has been quite messy over the last couple of weeks or so but it looks like the pair has picked up some momentum and finally found a direction. The bias for this pair is now to the upside for several reasons.

Price created a morning star formation at key support/50% fib level, and it has now also broken out of the descending daily channel and closed above key resistance of 137.500. This leads us to believe this pair is en route to the previous swing high/key resistance level of 141.000, which is our target 1. A break and close beyond that level would mean this pair will potentially fulfill its ABCD pattern , completing at target 2 (D1 fib extension) around the 145.000 level.

All comments appreciated.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out