ANALYSIS ON EURJPY
Welcome to my analysis
Interesting Point of interest In the EURJPY pair.
- Price above 200 day EMA on 1hr chart.
- Watch breakout of red line for buy signal.
- MACD showing bullish divergence on 15min time frame.
- Price should test around 119.00.
Expecting more move to the upside for now.
After A Huge Volume And Bullish Direction Now At 1H Chart And 4H Chart Market Going To Reverse Direction To Test A Minor Support
-Reversal Candle Has Been Formed (4H Chart)
-Middle Of September This Resistant Has Been Tested But Couldn't Break It
-If Market Started With A Gap Trade Position Will Be Postponed Until Other Reversal Candle
*Goodluck All And If You...
EURJPY expected to rise up to 1st resistance at 120.302 where it could potentially react off and drop down to 1st support at 118.426.
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Losses can exceed the initial investment so please ensure you fully
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EURJPY Bearish Wolfe Wave.. we should see a pullback down into the .5 fibo zone. Im shorting this from the top, so not going by traditional WWave rules of entry. I'll be looking to take money off the table quickly.
Price has slowly been trending toward and we've stalled out a bit here.
We can see kijun sen has gotten a bit flat, but I am looking for a break of price structure to get into a short trade.
I've also drawn out some important levels to aim for a long the way to our price structure target.
That test and close below our entry level is what will help me decide...
As you can see in the graph above, the eurjpy has been tracking the Ichimoku cloud precisely, for 3 months now that eurjpy has failed to rise above the cloud and any approach to the cloud is causing a fall.
Because of the above things, we recommend a Sell signal.