On HTF this pair has shown to be bullish so the overall bias of the pair is bullish since its always a good idea to go with the trend and the RSI has deep in overbought territory to add as a filter. I will take the bullish cypher which has formed on four hourly of which is my trading TF.
4 H Symetrical trilange breakout 1 H Ascending trilange trend continuation if break above resistance opinions welcome
double top 4 hr chart we wll see next downside move target 121.45
EUR/JPY after a sharp correction from 125.8060 price manged to halt near support level 124.4190 levels now price trying to take momentum on upside, Traders can buy EUR-JPY @ CMP and maintain the stoploss of 124.2000 with take profit 125 Happy Trading Feel free write comment us
We can short EURJPY for the following reasons. The Primary Wave 2 is completed thus we are potentially seeing wave 3. Wave 3 cannot go higher than wave 2. The price is also approaching intermediate wave 2 where it should terminate and start wave 3. Again wave 2 cannot go over the area of starting of wave 1. It is a hat-rick because minor wave 2 cannot cross...
EURJPY has completed 4th wave (complex correction) and 5th wave has commenced. Buy
Lets See where it takes after divergence
Currently we are in the corrective wave a. It just touched 0.382 retracemet near 115.285. Once done it can start for the b wave. We need to check what corrective pattern gets formed.