EURJPY#2 ---> Waiting to buy:
Good day dear #investors and colleagues #traders.
Your attention a technical analysis of the currency pair #Eurjpy:
#Comment_to_past_week:
Despite the omnipotent recovery of the euro across the entire spectrum of the market, it still could not resist the traditional "safe haven asset" of the yen.
The Japanese currency was asset number 1 in the previous week. As a result of the trading week, the pair changed by -187 points (-1.55%).
#Technical analysis:
Globally (D1):
#Eurjpy jumps from the lower boundary of the rising channel from October 2019. The border acts as a shopping zone from 118.40-118.80.
Moreover, the upper limit of the weekly range limits growth in the area of 121.20-121.40.
Locally (H1-H4):
For a month the currency pair has been in a fairly wide range of 118.44-121.39.
Thus, the currency pair is trying to form a steady upward movement, but the current nervousness in the financial markets does not allow it to develop.
By tradition, we call the weekly support and resistance zones:
A) Support: 118.00 and 116.85;
B) Resistance: 120.69 and 122.22;
#Orders_and_position:
- Leading indicators:
Our leading indicators inform us that the pair was in the oversold zone on Friday, however, this morning, the currency pair exited from it and is currently in a normal state.
(Neutral)
- Price behavior indicators:
The pair was not in the "abnormal" price behavior on Friday for a long time, but returned to normal in the morning.
Our recommendation for bidders is as follows:
A) If you have opened positions in the zone 119.00 and below, hold them before rearranging #stoploss to breakeven.
B) If you have not yet entered the market, wait for a possible zone retest, or look for local drops to enter the market with short stops.
Market movement should be directed to the top, however, if participants again see sales in the stock markets, we will again see the growth of the Japanese yen.
Regards to you,
Ltd ”Wermelgion and Partners Investment” [/I]
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
Your attention a technical analysis of the currency pair #Eurjpy:
#Comment_to_past_week:
Despite the omnipotent recovery of the euro across the entire spectrum of the market, it still could not resist the traditional "safe haven asset" of the yen.
The Japanese currency was asset number 1 in the previous week. As a result of the trading week, the pair changed by -187 points (-1.55%).
#Technical analysis:
Globally (D1):
#Eurjpy jumps from the lower boundary of the rising channel from October 2019. The border acts as a shopping zone from 118.40-118.80.
Moreover, the upper limit of the weekly range limits growth in the area of 121.20-121.40.
Locally (H1-H4):
For a month the currency pair has been in a fairly wide range of 118.44-121.39.
Thus, the currency pair is trying to form a steady upward movement, but the current nervousness in the financial markets does not allow it to develop.
By tradition, we call the weekly support and resistance zones:
A) Support: 118.00 and 116.85;
B) Resistance: 120.69 and 122.22;
#Orders_and_position:
- Leading indicators:
Our leading indicators inform us that the pair was in the oversold zone on Friday, however, this morning, the currency pair exited from it and is currently in a normal state.
(Neutral)
- Price behavior indicators:
The pair was not in the "abnormal" price behavior on Friday for a long time, but returned to normal in the morning.
Our recommendation for bidders is as follows:
A) If you have opened positions in the zone 119.00 and below, hold them before rearranging #stoploss to breakeven.
B) If you have not yet entered the market, wait for a possible zone retest, or look for local drops to enter the market with short stops.
Market movement should be directed to the top, however, if participants again see sales in the stock markets, we will again see the growth of the Japanese yen.
Regards to you,
Ltd ”Wermelgion and Partners Investment” [/I]
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
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