EUR/JPY
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Thread: EUR/JPY

  1. #1
    Hi guys,

    I'm new to nigeriaforextrading although my number of posts suggested differently. In this thread I will share my prognosis that is weekly. Please don't hesitate to share yours too so traders can find a picture of the week ahead for the currency pair. Happy trading.

    Following two weeks of excellent rally for the Euro, the pair has become the drawback where the price briefly violated the 161.10 resistance and immediately reversed. In case the rejection at 0.618 Fibonacci degree from 166.65 to 152.11 holds true, I expect the movement to turn into the downside. A failure to close above the 55-EMA on the weekly chart also demoned that the bears have come back for one more push towards 152.11. Immediate support seen at 156.84 area as a fracture at 155.64 can see the price action retest the reduced at 152.11 (that's about 500 over pips from the place price now). On the upside, 158.57 zone likely be the next instant resistance. Bias on the drawback for the Upcoming few days.

  2. #2
    Not certain. USDJPY looks correcting oversold extremes, lets see how it goes. I've missed the run in some rebound that was welcome although EURJPY to get brief in the fashion. Hope it moves up

  3. #3
    Keeping my eye on the 156.40s to the next break down.
    Same thing at 204.30s for G/J.

  4. #4
    It will break all the way down earlier or later. In fact, a combination of eurusd and usdjpy techs would direct us to a theory where eurjpy could fall a couple of tens of pips. But we're at early stages, letsee how it will unfold.

  5. #5
    Yeah agree. In the future it could go down tens of thousands pips. We could see short term chances to ch while still on the way downwards.

  6. #6
    What are your ideas on the gap to be filled?

  7. #7
    EURJPY could reverse back down shortly. An indior I have on my screen is showing a strong possibility for a reversal back down shortly (15 min chart. See connected). To put it differently, the uptrend may be shortlived. It's finding strong resistance in the weekly M2 in 156.93. Where it goes from here, we'll see.

    Chart shows skull and crossbones which is my way of showing myself there are conditions present that may indie the trend is reversing. The indior is fairly accurate. Notice the separation in the lines inside the pink box, this is also a strong indiion that something's going to reverse.

    Long today would be quite risky.

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