It looks like the corrective intermediate wave (C) of the corrective bearish Primary wave 5 ended at 115.87. As part of Cycle b, or 2, we can now expect prices to move higher medium and long-term with one of the medium-term upside stops laying at 122.54.
The current minute ii correction is likely to end as a zig-zag complex pattern w,x,y with minuette y...
The EURJPY pair formed new bullish channel recently to confirm the affection by the bullish bias domination, while the main support line consolidation at 128.65 besides the price stability above 38.2% Fibonacci correction level at 128.85 reinforce the continuation of the positivity, to expect targeting 129.65 followed by 130.20 levels in the near term period.
Fundamental data of Japan are still weak applying QQE for years. BOJ has to keep loose monetary policy, hoping everything may get better.
Even worse, birth rate of Japan shrinking year by year, aging society cannot be ignored when we do fundamental analyse. Under such circumstances, low unemployment rate is not as good as it shows. The main problem of Japan is...
This pair finished a harmony pattern on the weekly time frame and it might go down 50 Fibo. In addition to the waves support the same direction. The first goal is wave 6, which can be predicted by connecting 1 and 4.
-Although EUR is way too bullish at the moment, but i would prefer longs it makes a consolidation here and completes this structure.
-It may break above and go rally to extend 3rd wave so just wait and see how structure develops.
-On lower time frames, buy low and sell high.
We saw a bullish EMA crossover (Golden Cross) occur on the 26th of April 2017 on the 4H chart and price has respected this crossover and has been riding above it, making higher highs. However, in recent weeks we've seen progression slow down and we have made our first Lower High as the uptrend begins to curve round to the downside.
Price has also fallen below...
Not a setup, but a downtrend continuation prediction is what I have in mind.
Price could follow the uptrendline, to continue up as Fibonacci tool predicts where it will lead to,
while 117.7 hit 61.8% & may be enough to continue downtrend with Traders Dynamic Index indication of reversal from an uptrend start.
Or price to move up according to its minor fibonacci...
point D Bat pattern Complete and Buy from 119.55-60 area and 1st tp is 120.20 and tp 2 120.60 ,
this is short term Oprotunity , and I Recomend , Take profit on tp1 and see price action , if price action make reverse candlestick then sell from that point tp is 118.60 and I also watch long term sell
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...
Here we have EURJPY hitting a very major Support line. How major?
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 to Oct...