EURJPY has hit trend line resistance at 122.76 and is headed south. A likely target would be the lower trend line at 119 area. The TDI on all the higher frames suggest weakness and with the RSI on the DTF very BEARISH. I expect this pair to lose ground in the forthcoming trading week.
EURJPY 1hr. Is that a bearish flag I see? - It's at daily trendline/resistance level - It's just finished an AB=CD pattern - It's done a lower low and lower high All that tempts me to say SHOOOOOOORT...when flag and the 122.22 horizontal resistance get smashed!
EURJPY might give up some of its gains from last week as the surprise news that a ECB rate hike was being talked about shot this pair like all EUR pairs higher. We are now up against trend line resistance and H1 TDI is looking increasingly BEARISH. We are looking to SHORT this pair from these levels but the BULLISH structure remains in place so a LONG trade from...
EURJPY POSSIBLE SCENARIO --------------------------------- -WILL COMPLETE A AB=CD AT 117.350. -STRONG TRENDLINE AT THE SAME LEVEL. -WEEKLY SUPPORT --------------------------------- I HAVE A BUY LIMIT AT 117.400 2 TARGET ARE SHOWN ON THIS CHART AND WILL BE MY TP'S --------------------------------- AGAIN, THIS IS PURE SPECULATION AND THIS SETUP MIGHT NEVER OCCUR.
EURJPY SELL SENARIO / PLAN SHORT-TERM
EURJPY has completed a bullish Gartley pattern. RSI is over-sold. TP1 set at 38.2%, TP2 set at 61.8% fibonnaci retracement level.
EURJPY had a nice parabolic move to the upside. These kind of moves have very fast and larger candles. They are proceeded often with nice parabolic reversals form the parabolic start. Looking for daily candle to close below support "not on chart" with stops behind the daily candle.
EurJpy is a short below 120.50 - 1st target at 0.38 Fib -118.500. Second target at 116.700 - 0.50 Fibonacci retracement Follow us on www.wallstreetimes.com
EURJPY is heading completion of wave 5 around 124.60 area. Since wave 3 is the longest wave, wave 5 will be almost same length with wave 1.
EURJPY is currently breaking out of a very strong Bollinger Band squeeze. I have entered upon a bearish impulse making new recent lower lows. I expect price to continue to drop to previous lows as marked on the chart. TP1 has 1:4 RRR at 345 pips. SL set at 80 pips.