IF YOU WANT TO PERFECT SELL ENTRY.THEN YOU CAN USE SELL STOP @128.641 LEVEL.
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your...
We expect to sell this pair because of a strong resistance above. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely. Thank you for following me on Tradingview.
As we can see on the EURJPY daily time frame the last couple of month, Bull keep the market up three times consistently, and the EUR was getting strong against YEN. After the G7 Meeting and Federal Reserve Meeting, the EUR is getting weaker slowly. Now it's time to Bean in the market and makes strong the YEN. In another case scenario, we haven't seen JPY strong...
Revised, this could be a Bat pattern and possible reversal at trend line. It has been very strong today, so caution is warranted. Possible intraday gartley reversal hourly chart for EURJPY which could point back to the 132.500 level.
Our preference: sales position below 129.80 with targets at 128.55 & 127.95 in extension.
Alternative scenario: in excess of 129.80, aim for a continuation of the rise with 130.00 & 130.50 in line of sight.
Comment: The RSI is misdirected.
Area of interest:
- Daily chart resistance for all May/17 at 38.2% fib from high Dec/2014 to low Jun/2016
- Respected resistance from 25th/May/17
- Confluence 61.8% fib for short
- 124.45 to short
Safe Trading everyone.