Hello Everyone, I Want share my idea about EURJPY.
On that pair EUR is so Strong, its going up with little swing lows, but soon price will be at monthly resistance, which I think will be stop EUR Strong movement but also matter what Japan will do for stop their inflation. if we will look at JPYX we are at important LVL which is weekly support, but it's not strong.
for me EURJPY is in pretty strong uptrend which can easy brake monthly resistance and continue moving up. next week I think we will see brake 156.85 resistance and after retest it will give us long entry signal.
Here is me 2 scene of EURJPY.
Bullish scene 1 - Price will brake 4H resistance which is 156.850 retest it and will go to retest monthly resistance at 159.500.
Bearish scene 2 - price will pull back from 4H resistance and will brake 154.1 support, then will continue bearish trend.
BE PATIENT!!!!
On that pair EUR is so Strong, its going up with little swing lows, but soon price will be at monthly resistance, which I think will be stop EUR Strong movement but also matter what Japan will do for stop their inflation. if we will look at JPYX we are at important LVL which is weekly support, but it's not strong.
for me EURJPY is in pretty strong uptrend which can easy brake monthly resistance and continue moving up. next week I think we will see brake 156.85 resistance and after retest it will give us long entry signal.
Here is me 2 scene of EURJPY.
Bullish scene 1 - Price will brake 4H resistance which is 156.850 retest it and will go to retest monthly resistance at 159.500.
Bearish scene 2 - price will pull back from 4H resistance and will brake 154.1 support, then will continue bearish trend.
BE PATIENT!!!!
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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.