The last 1-day candlestick is fully above the monthly key level of 116.723.
I think that the EURJPY pair will be bullish until 119.902.
What I forecast :
- EURJPY will be bullish and reach 119.902 in 15 days approximatively.
- EURJPY will be bullish and reach 116.723+(119.902-116.723)/2 = 118.3125 in 7 days ...
In 4H timeframe : Price still over the cloud <=> trend still bullish
In 1H timeframe : Price in the cloud <=> no trend
in 15M timeframe : Price under the cloud <=> short term bearish
In all timeframes, price meets a support of 75.788
In all timeframes, LS meets a support of 75.788
I think of a bullish trend at ...
I think that the price would have to get over 3.22620 for a confirmation of a bullish trend.
In 15 minute timeframe.
For now, as it is late in Turkey (00:31) I think that there may not be a lot of volatility for the next hours.
If price (and LS) in 4 hour timeframe gets under 0.0295 then that would be a confirmation of bearish trend.
If price (and LS) in 4 hour timeframe does not get under 0.0295 than further analysis to be done
If price gets under 0.0295 then next potential support would be 0.0201
The next weekly candle will be the confirmation or not of the bullish trend.
Price actually under 0.1373 that is a resistance for now
If price gets over 0.1373 then this would be a confirmation of bullish trend (on a weekly basis, so for investors that intend to get profits after some weeks)
A possible scenario :
- Price going downtrend until 104.055 or lower until 104.012
- Then price going uptrend until first double resistance of 104.279/104.299
- Then if price gets over the double resistance, price may go uptrend to 104.478