Support - S1 : 129.724 | S2 : 128.264 | S3 : 126.971
Resistance - R1 : 132.477 | R2 : 133.770 | R3 : 135.230
Main Trend - Bullish
Intraday Trend - Bullish
Studying the charts of forex technical analysis for the exchange rate EURJPY, we observe that on daily chart the price is moving in a triangular formation. On 4H chart of forex technical analysis, we can see that the price close above EMA(50) and EMA(200) which have a downward cross between them. Also, we can observe that the retracement reaches almost at 74.6% and finally price close on Friday exactly on the median line of Andrew's Pitchfork.
Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:
The area 130.438 – 130.916 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 131.850, 132.300, 132.900, 133.300, 133.600.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 130.000, 129.600, 129.150, 128.750, 128.350, 128.000, 127.750, 127.350.
The area 131.195 – 131.359 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 131.850, 132.250, 132.750, 133.300, 133.850.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 130.600, 130.000, 129.500, 129.000, 128.750, 128.500.
There is no Harmonic Pattern on forex technical analysis charts.
Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy. We note the need to use stop-loss levels.
You agree with our estimates? If you have another point of view, you can write your opinion in comments.
You can subscribe to one of the four subscription packages and take advantage of all benefits of the forex signals using one of the most sophisticated Forex Signal Copier, also from monitoring the live trading room, and of course from the full support in real time.
Resistance - R1 : 132.477 | R2 : 133.770 | R3 : 135.230
Main Trend - Bullish
Intraday Trend - Bullish
Studying the charts of forex technical analysis for the exchange rate EURJPY, we observe that on daily chart the price is moving in a triangular formation. On 4H chart of forex technical analysis, we can see that the price close above EMA(50) and EMA(200) which have a downward cross between them. Also, we can observe that the retracement reaches almost at 74.6% and finally price close on Friday exactly on the median line of Andrew's Pitchfork.
Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:
4H Chart
The area 130.438 – 130.916 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 131.850, 132.300, 132.900, 133.300, 133.600.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 130.000, 129.600, 129.150, 128.750, 128.350, 128.000, 127.750, 127.350.
1H Chart
The area 131.195 – 131.359 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 131.850, 132.250, 132.750, 133.300, 133.850.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 130.600, 130.000, 129.500, 129.000, 128.750, 128.500.
There is no Harmonic Pattern on forex technical analysis charts.
Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy. We note the need to use stop-loss levels.
You agree with our estimates? If you have another point of view, you can write your opinion in comments.
You can subscribe to one of the four subscription packages and take advantage of all benefits of the forex signals using one of the most sophisticated Forex Signal Copier, also from monitoring the live trading room, and of course from the full support in real time.
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