Eur/Jpy

eurjpy pair just bounced from its support 114..
i think now its time for this pair to go up..it can be bought from here till 117..
thsi pair is not showing too much move..but for now its signals are suggesting for this much only

I can see bearish downtrend channel at 4H chart. This trend line is strong resistance level.

I expect downward movement till 100.79- this is 1st target

2nd target is psychological level 100.00

Good luck

as we can see from the chart , the pair has succeeded in breaking 106.00 and reached 106.50 , so that's mean the up trend is still standing and the pair might head to 107.00 and the 107.30 . good luck .

While risky assets have suffered amid this news, anti-risk alternatives like the Japanese Yen, US Dollar and Swiss Franc have risen. If relations continue to deteriorate, we may see a magnification of these assets’ reactions, especially if prevailing global economic conditions do not look healthy.

Look for a fresh medium-term higher low to carve out around 110.00 (above 108.00) ahead of the next major upside extension back towards and eventually through the recent highs by 123.35.

Analysis of EUR/JPY

Trend is Strongly Sell

Resistance Level 1: 122.91
Resistance Level 2: 123.07
Resistance Level 3: 123.21

Pivot Point: 122.78

Supporting Level 1: 122.64
Supporting Level 2: 122.50
Supporting Level 3: 122.36

Look for a fresh medium-term higher low to carve out around 110.00 (above 108.00) ahead of the next major upside extension back towards and eventually through the recent highs by 123.35.

Like I said in previous post Eur/Jpy wasn't able to break the bearish trend line and hence it dropped. Today H4,Daily and Weekly time frame shows that there is a strong bearish movement which will continue even in next week. Hope for a good start on Monday.

EUR/JPY is currently into a bearish rally. The pair is now below the lower band of its medium term bearish channel. A pullback on this line as resistance seems possible.

We advise to trade only short positions as far as 95.50 is resistance. The breakout of 94 will give a new sell signal and will open the way for new historics lows.

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