Tuesday, April 18, 2017 7:33:33 AM
The EUR/JPY Review & Forecasting Uptrend
Since March 13 the EURJPY currency pair has changed the direction and became strongly down and it declined since this day till yesterday around 790 pips, so large number or big loss for the pair, but after yesterday close I think the pair finished the bleeding journey and will start rising now, so if you want to make money read all this report till the end.
Firstly, we have so strong support area and the prices gave us the buy signal let's take a look at the chart:
1. The rising wave after the Brexit on June 24 till the top on Dec 15, the pair has reached to 61.8%, and it's the golden correction percentage and expected the pair will rise from there.
the smaller rising wave from Feb 27 till March 13, the pair has reached to 161.8, the golden extension percentage.
2. The rising trend line from July 6 which the prices touched it 4 times before and rose, the prices have touched again this week and expected to rise again.
3. On the daily chart, yesterday candle is bullish engulfing candle which refers to the uptrend.
The Next Few Days
From this analysis on daily we can buy the pair now at 115.95 and keep our first target at 118.20 and the second one at 120.10 especially after we saw the RSI indicator give buy signal and rose to 37 level.
This week we don't have any hot news from the European Union or even from Japan but be careful from any unusual news can change the market direction.
Read More at https://superforex.com/analytics
Since March 13 the EURJPY currency pair has changed the direction and became strongly down and it declined since this day till yesterday around 790 pips, so large number or big loss for the pair, but after yesterday close I think the pair finished the bleeding journey and will start rising now, so if you want to make money read all this report till the end.
Firstly, we have so strong support area and the prices gave us the buy signal let's take a look at the chart:
1. The rising wave after the Brexit on June 24 till the top on Dec 15, the pair has reached to 61.8%, and it's the golden correction percentage and expected the pair will rise from there.
the smaller rising wave from Feb 27 till March 13, the pair has reached to 161.8, the golden extension percentage.
2. The rising trend line from July 6 which the prices touched it 4 times before and rose, the prices have touched again this week and expected to rise again.
3. On the daily chart, yesterday candle is bullish engulfing candle which refers to the uptrend.
The Next Few Days
From this analysis on daily we can buy the pair now at 115.95 and keep our first target at 118.20 and the second one at 120.10 especially after we saw the RSI indicator give buy signal and rose to 37 level.
This week we don't have any hot news from the European Union or even from Japan but be careful from any unusual news can change the market direction.
Read More at https://superforex.com/analytics
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