Chasing those pips - EUR/JPY
Hello traders,
Today I would like to share with you my trading plan on the EUR/JPY currency pair. Below I will write down all the zones and levels in numbers , as well as a short fundamental analysis and what can we expect on the economic front for this week.
For the full technical analysis you can check our Youtube.
We are also Live on Telegram, so follow up there for more info.
Zones and Levels:
Weekly Resistance Area: 132.00 to 134.00
Daily Area of Consolidation: 132.05 to 133.20
Daily Support Area - Target 1: 129.27 to 128.57
Weekly Support Area - Long term target: 124.70 to 123.40
H4 previous top: 131.48
H4 top of Wave 3: 130.55
Fundamental Analysis:
The only High Importance Event for this week will be on Friday 23:30 GMT (01:30 Bulgarian time - Thursday).
JPY National Consumer Price Index
Expected reading is 0.8% from a previous 0.7%, which should give a boost to the JPY and lower the price of the EUR against it. Beware of surprises as this can seriously damage your trades. I suggest you to close part of your positions in order to protect yourself.
Wednesday - 18.07.2018
We have a few Medium Importance Reports for the EUR and one for the JPY. There is a high chance of volatility throughout that day, but the expected readings are very close to the previous ones and if there are no surprises, expectancy is this volatility to quickly settle and the price to continue on its’ path.
I wish everyone a profitable week! :)
Today I would like to share with you my trading plan on the EUR/JPY currency pair. Below I will write down all the zones and levels in numbers , as well as a short fundamental analysis and what can we expect on the economic front for this week.
For the full technical analysis you can check our Youtube.
We are also Live on Telegram, so follow up there for more info.
Zones and Levels:
Weekly Resistance Area: 132.00 to 134.00
Daily Area of Consolidation: 132.05 to 133.20
Daily Support Area - Target 1: 129.27 to 128.57
Weekly Support Area - Long term target: 124.70 to 123.40
H4 previous top: 131.48
H4 top of Wave 3: 130.55
Fundamental Analysis:
The only High Importance Event for this week will be on Friday 23:30 GMT (01:30 Bulgarian time - Thursday).
JPY National Consumer Price Index
Expected reading is 0.8% from a previous 0.7%, which should give a boost to the JPY and lower the price of the EUR against it. Beware of surprises as this can seriously damage your trades. I suggest you to close part of your positions in order to protect yourself.
Wednesday - 18.07.2018
We have a few Medium Importance Reports for the EUR and one for the JPY. There is a high chance of volatility throughout that day, but the expected readings are very close to the previous ones and if there are no surprises, expectancy is this volatility to quickly settle and the price to continue on its’ path.
I wish everyone a profitable week! :)
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