EJ idea great zone on 78.6 fib head and shoulders.
The EURJPY is breaking back above the 100 day MA on the daily chart (see blue line on the chart above). Last week, the price moved up to that MA and rotated lower.
Going back to the end of February on the chart above, the EURJPY found support at 154.37, a key swing area, after briefly dipping below the 38.2% Fibonacci retracement at 155.92. The bounce from this level has led to a recovery in March. Today, the pair now testing/breaking the 100-day MA (161.31) . The 200-day MA (163.08) is the next key target. The price of the EURJPY stalled against that MA in December and again in January. .
The EURJPY is breaking back above the 100 day MA on the daily chart (see blue line on the chart above). Last week, the price moved up to that MA and rotated lower.
Going back to the end of February on the chart above, the EURJPY found support at 154.37, a key swing area, after briefly dipping below the 38.2% Fibonacci retracement at 155.92. The bounce from this level has led to a recovery in March. Today, the pair now testing/breaking the 100-day MA (161.31) . The 200-day MA (163.08) is the next key target. The price of the EURJPY stalled against that MA in December and again in January. .
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.