From the technical view:
1. From the Monthly and Weekly perspective, the price created an impulse to the upside without any proper retracement, and now we can expect a deeper retracement to the downside from the longer term perspective.
2. From the Daily perspective, price seem like created a W Pattern, we can expect the price go and retest the "head of W" before the continuation to the upside.
From the fundamental view:
1. Big players bearish bias on both EUR and JPY in the short term.
2. In the new report, more than 5.8k of long position closed on the EUR and 6.5k of short position added on the EUR, and bringing the net position decreased to 125,988 from the ordinary 165,344. For the JPY more than 5.4k of long position closed on the JPY, and 3.9k of short position added on the JPY, net position from 37,182 decreased to 19,270.
3. Combining with the TA and FA, short term downside on EURJPY is expected, but long term is moving to the upside.
How to approach EURJPY?
1. Waiting for the lower timeframe become bearish market from the bullish market as we have right now, only allow to short this pair when the lower timeframe showing bearish conditions.
2. Just short at the moment is not a good idea, because now the market in lower timeframe is extremely bullish.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on EURJPY or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.
1. From the Monthly and Weekly perspective, the price created an impulse to the upside without any proper retracement, and now we can expect a deeper retracement to the downside from the longer term perspective.
2. From the Daily perspective, price seem like created a W Pattern, we can expect the price go and retest the "head of W" before the continuation to the upside.
From the fundamental view:
1. Big players bearish bias on both EUR and JPY in the short term.
2. In the new report, more than 5.8k of long position closed on the EUR and 6.5k of short position added on the EUR, and bringing the net position decreased to 125,988 from the ordinary 165,344. For the JPY more than 5.4k of long position closed on the JPY, and 3.9k of short position added on the JPY, net position from 37,182 decreased to 19,270.
3. Combining with the TA and FA, short term downside on EURJPY is expected, but long term is moving to the upside.
How to approach EURJPY?
1. Waiting for the lower timeframe become bearish market from the bullish market as we have right now, only allow to short this pair when the lower timeframe showing bearish conditions.
2. Just short at the moment is not a good idea, because now the market in lower timeframe is extremely bullish.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on EURJPY or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.