Support - S1 : 127.601 | S2 : 127.413 | S3 : 127.248
Resistance - R1 : 127.954 | R2 : 128.119 | R3 : 128.307
Main Trend - Bearish
Intraday Trend - Bearish
On 4H chart of forex technical analysis for the exchange rate EURJPY, we can realize that the price proceeds in a sideway move and the result was to form a triangular formation. The price return into the lower channel of Andrew's Pitchfork and is moving below EMA(50) and a few pips outside of the triangular formation. EMA(50) and EMA(200) have a steep downward cross between them.
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 127.920 – 128.197 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 128.648, 129.140, 129.640, 130.000, 130.400, 130.800, 131.000.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 127.300, 126.770, 126.200, 125.700, 125.300.
The area 127.810 – 127.950 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 128.000, 128.200, 128.350, 128.450, 128.600, 128.750.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 127.420, 127.250, 127.000, 126.750, 126.580.
There are Bullish Harmonic Patterns, on the 4H chart: 0.618xAB=CD and on Daily chart: 3 Drives.
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 Signals Copier, also from monitoring the live trading room, and of course from the full support in real time.
Resistance - R1 : 127.954 | R2 : 128.119 | R3 : 128.307
Main Trend - Bearish
Intraday Trend - Bearish
On 4H chart of forex technical analysis for the exchange rate EURJPY, we can realize that the price proceeds in a sideway move and the result was to form a triangular formation. The price return into the lower channel of Andrew's Pitchfork and is moving below EMA(50) and a few pips outside of the triangular formation. EMA(50) and EMA(200) have a steep downward cross between them.
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 127.920 – 128.197 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 128.648, 129.140, 129.640, 130.000, 130.400, 130.800, 131.000.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 127.300, 126.770, 126.200, 125.700, 125.300.
1H Chart
The area 127.810 – 127.950 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 128.000, 128.200, 128.350, 128.450, 128.600, 128.750.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 127.420, 127.250, 127.000, 126.750, 126.580.
There are Bullish Harmonic Patterns, on the 4H chart: 0.618xAB=CD and on Daily chart: 3 Drives.
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 Signals Copier, also from monitoring the live trading room, and of course from the full support in real time.
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