(eur/jpy) i see dub bott (M15 & W1) well complete between 111.510 & 111.697, Posi RSI diversions Under 70
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(eur/jpy) i see dub bott (M15 & W1) well complete between 111.510 & 111.697, Posi RSI diversions Under 70
In my opinion the couple is very overbought there is something similar to the figure's head and shoulders, but I think such a strong level of support is just the level of hepatitis B, which occurred at the opening of last week ... so it pays to look at it ... if Stepan price will need to go down .... in short positions ...
I started to like this pair, have very good volatility .. at average more than 100 pips a day, about 40% more than EUR/USD :) Im bullish at this pair, but im buying only dips.
weekly analysis-
a strong candlestick pattern can be see in the weekly time frame and this will be a signal for reverse the market price. in other hand stoch indicator is also in the over bough level. so we can short this pair with breaking the lower side support at 109.57 and also with cross out of stoch indicator.
if the price level 109.50 is breaked lower side then it will be falling to 107.00 end of the week.
Well, that's a strong trend to the top of a little stop and start from the top and is declining couple formed the first support at 110.70 and the second will be at the level of hepatitis 109.90 ... but still I think this trend will be difficult to immediately deploy ... so consider rebound and continue movement at the top///
If I see H4 time frame, I think EURJPY is trying to break the resistance level at 111.18 now. If the breaking success, I expect EURJPY will continue going up to the next resistance level at 111.77 or even higher if EURJPY also can break that resistance level.
Spoiler:
Today’s technical analysis
as per the h4 time frame price level 112.50 is not able to cross in upper side and lower side the price is 110.50 is also act as a support. we can go for short if lower side it break 110.50 level
Resistance 3- 112.82
Resistance 2- 112.30
Resistance 1- 111.68
Pivot point- 111.16
Support 1- 110.54
Support 2- 110.02
Support 3- 109.40
Last friday candle on daily time frame, showed that EURJPY start to go down. Today, the pair may goes down towards 110.19, which it is 50% monthly fibo level.
As long as price stay above 50 ema, the trend will remain bullish trend
During the last MACD above level 0, the trend will remain bullish trend
Trend: bullish
Target 111.80
EUR-JPY on sideways. On 4H TF candle on still move so near the 38.2 fib at 111.02. Just wait and see. Then, we can call that this pair on start nice bearish continuation only or after that pivot (110.56) can be break down by strong seller.