EURJPY - buy on 4H - big move incoming
market price moves within sidetrend channel since strong up movement from beginning until middle of October.
I expect up movement to at least drawn take profit area. If the market price should break this area we can expect strong up movement to 122.4 area.
Indicator Analysis
-regular RSI broke out of triangle pattern and need to close above it for further market up movement
-MACD baselines crossed bullish which brings buyers into the market
-Bollinger bands going sideways and getting tighter which indicates incoming high volume movement
Good luck and a great weekend to all
I expect up movement to at least drawn take profit area. If the market price should break this area we can expect strong up movement to 122.4 area.
Indicator Analysis
-regular RSI broke out of triangle pattern and need to close above it for further market up movement
-MACD baselines crossed bullish which brings buyers into the market
-Bollinger bands going sideways and getting tighter which indicates incoming high volume movement
Good luck and a great weekend to all
Trade closed: stop reached
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
