RETEST STRUCTURE? buy and short opportunity 1D
Long EJ - After ECB and BoJ decisions
The price finding support area at 115.46-116.63. Bullish as long as support area at 115.46 remains intact. As intraday trading strategy. we must get bullish signal confirmed by trading above 117.764 with potential target at 119.03- 119.89.
Potential Long position as indicators is above the Ichimoku cloud as well as potential bullish movement indicated by ADX
Double (almost triple) buttom and I think we will go up and test the bearish trend channel so I will take profit there and I will supply once and if it breaks through 109.365 support.
SUMMARY: The EURJPY pair bounced slightly during the course of the day on Friday, using the 113.28 level as support. At this point in time, the market is looking bearish. The primary trend of EURJPY is bearish on charts and price is trading below its support trend line in its 1 hourly chart. In its daily chart the price is sustaining below 200 day SMA that are...
Similar to the GBPJPY chart another sypher is nearing completion on the 1 hr charts
Look like the falling wedge(correction) is going to end. Very good time to buy now and keep for long term.
Here we have EURJPY hitting a very major Support line . How major? 2010 High 2012 Low And now we have finally come back to test it in 2016 . Of course the EU Referendum is having a Major impact on this pair, hence its continuous decline in the coming months. But I believe that history will have an impact on this pair and it will climb its way back up...
I think down trend will be ended when the price hit 119.921...
Looking at the Monthly charts and where this Pair may go I have mapped a possible cypher pattern, We have had the X to A and A to B legs form. Point C would be in line with previous area of ressiatance and Point D also falls in place with previous support
I say Possible as over the last week or so on several occasions I felt we were formign a double bottom only to push futher lower. Yesterdays cande does have a longer wick which rejected a close lower so wills ee if we see a push higher.
Zeroing in on 122.50 to go long for a couple of hundred pips. there is a lot of downside potential still but this where fundamentals comes into play for me. top of the channel is the first TP from there we will see. This trade idea is not set in stone. But i know as much I am not a bear.