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No change in EUR/JPY’s outlook. At this point, we’re still looking for strong resistance around 124.61 to limit the rebound from 118.62. And, on the downside, break of 122.84 minor support will turn bias back to the downside for retesting 118.62 low first. However, sustained break of 124.61 will extend the rebound to 127.09
In the long term picture, EUR/JPY is staying in long term sideway pattern, established since 2000. Fall from 137.49 is seen as a falling leg inside the pattern. It could extend through 109.03 to resume the decline from 149.76 But in that case, we’d expect strong support around 94.11 to bring reversal.
I bought EUR/JPY for the medium term - at least several days unless I get contradictory signals.
Reasons:
Bullish price action patterns on the daily chart. First a pin bar then a bullish engulfing bar
Price is crossing a small but still important pivot zone, the 115.00 area
The support on the daily chart at 113.50 is the bounce place. Multiple bottoms in this area = strong rejection.
target at least 116.50 or more; stop loss at 113.50. Again, this is a medium term trade
bullish trend seems to be taking place on the EURJPY pair and that’s according to the green color shown by the Bollinger Bands indicator determining by that the main market direction. A buy signal is indicated from the Simple Moving Average indicator and that is by giving us buy signal.
EURJPY bullish trend can continue , now current price at 132.55 and strong support at level 132.35 in hourly time frame. there is possible chance price will move to up side. then next high price is 133.00
I suggest to entry BUY with stoploss at 132.20 and take profit at 133.00
I hope you can earn consistent profit from my signal, good luck
eur/jpy Technical analysis
Level of Resistance
1-Resistance 125.33
2-Resistance 125.49
3-Resistance 125.60
Level of Support
1-Support 125.23
2-Support 125.15
3-Support 124.91
For this currency pair, today for trading, we take the channel from 124.870 to 123.840! At the moment, the currency pair chart is located above the strength of 124.250 and average channel 124.180 in the upper part of the trading channel. Now, the pair's chart broke the level at 124.520, however, it has not reached the upper bull level at 124.870! In the event of the trend of moving out of the channel and the price, we get the benefits at the level of 124.950 or 125.050! Otherwise, in terms of breaking and correcting posts from average, catch profit on 123.870!
The pair is trading in a bullish direction under formation, and the exponential moving average 21 is shifting from bearish to neutral today.
The index of the momentum of the MACD by the regular settings is cross-positive as it shows a positive technical deviation in the configuration supports the bulls in the pair.
It is expected that if breached 132.25 might target 134.79 (we recommend closing a large part of the contract at these levels) and the other target 134.97 on the other hand
The price of the pair consistently stable above the support at 123.50 is ready to resume the bullish correction in the near term, the attempt to infiltrate the stochastic towards the level of saturation of the purchase supports our bullish expectation to expect the price to achieve a new positive target target level 125.05 and beyond it may extend trading around 126.18 to face the level of correction 50% Fibonacci and shown in the attached figure.
Today technical analysis of Eur/jpy is buy
Resistance and supporting level is:
Resistance level first:124.81
Resistance level 2nd : 124.91
Resistance level 3rd: 125.01
Supporting level first: 124.55
Supporting level 2nd: 124.44
Supporting level 3rd:124.33
Today Eur/Jpy current rate : 109.627
Today by observing all the routine of the market carefully i have come
to know that the most suitable and the most profitable selling point will be 109.340
and today the most profitable buy point will be 109.820
I hope you all will follow my signals and you will earn more money good luck