If it test the support at yellow line and bounces from their then expect it to hit green lines otherwise short it with red as targets.
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wait for the breakout its over strong resistance...in 1hr chart...let the breakout and we buy from retest area...see breakout above trend line and 50ma....
as we no market is in uptrend....market may be retest its breakout..now its over strong support area..wait for the bullish candle their then go long....
AS WE GOT BUTTERFLY PATTERN, AS .786 IS NOT ON PERFECT POSITION BUT STILL WE GOT TWO REASONS TO SELL THIS PAIR
FIRST, THE HAMMER
SECOND, THE STOCHASTIC CROSSOVER
TAKE PROFIT DETAILS ARE BEING GIVEN AND SOON WILL EXECUTE ON PYRAMID PATTERN
STAY TUNNED ;p
The chart clearly shows that the pair after a long downtrend breached the resistance trend line
It is going to retest the resistance in which the pair is going to create the lower highs after that
long after the trend line retest bullish candle formation
Over time, eurjpy was pushed up from the area of YPP (P) 128.637 and MPP (P) 128.786.
It will be stopped around 130.000 and the next week will be come.
Weekly Chart
130.000 is not only a round number but also a head & shoulders neckline, so it seems that there are many conscious traders.
(Also worried that for MA users 800 EMA and 1600 EMA are...
The 4-hour chart of EUR/JPY formed a double top pattern and made a strong sell off.
Now it currently retesting the support of the double top pattern.
The chart is also forming a up channel which could be interpreted as bearish flag too.
As per our analysis,the counter is trading around multiple resistance zones and a strong selling pressure could be...
The 1 hour chart of EUR/JPY indicates that the pair is currently in sideways trend.
The pair is currently moving towards its upper range limit which is a strong resistance.
The stochastic indicator is also moving towards overbought region.
If the resistance holds, traders can go for a sell.
