EURJPY weekly analysis
Last week we saw a good bear movement in the EURJPY pair. Seems like a good correction. This week we see EURJPY to be on the bearish side.
Why you say?
Let's do the math.
Yen is stronger than USD, which is stronger than EUR.
Let's put it in a equation where ">" denotes strength.
So,
JPY > USD > EUR
Which gives
JPY > EUR...
So, here we go. As Yen becomes stronger, Eur becomes weaker, EURJPY goes bearish.
We look at level of 123 to be the final target of this analysis.
Well, there is also a bullish divergence on stochastic. It will be interesting to see where this pair goes after the target is achieved.
Why you say?
Let's do the math.
Yen is stronger than USD, which is stronger than EUR.
Let's put it in a equation where ">" denotes strength.
So,
JPY > USD > EUR
Which gives
JPY > EUR...
So, here we go. As Yen becomes stronger, Eur becomes weaker, EURJPY goes bearish.
We look at level of 123 to be the final target of this analysis.
Well, there is also a bullish divergence on stochastic. It will be interesting to see where this pair goes after the target is achieved.
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