EURJPY – The completion of Diagonal Pattern and the advent of the uptrend
In the daily chart, the Ending Diagonal pattern has been completed in the range of 144.39, and the price has been able to cross the end of the 4th wave (122.84) with 5 ascending waves, and extended up to the range of 127.07.
According to this pattern, the target for the uptrend in the first stage is the range of 133.
In the 240-minute chart, the price with Double ZigZag pattern has reached to the range of 121.61, we can have this probable scenario in which the 2nd wave is over.
In order to confirm the uptrend, the price should be stabilized above the range of 125.08, in addition, if the price crosses the range of 121.61, this scenario will be nulled, and we will probably encounter a Complex Pattern in 2 wave
In the daily chart, the Ending Diagonal pattern has been completed in the range of 144.39, and the price has been able to cross the end of the 4th wave (122.84) with 5 ascending waves, and extended up to the range of 127.07.
According to this pattern, the target for the uptrend in the first stage is the range of 133.
In the 240-minute chart, the price with Double ZigZag pattern has reached to the range of 121.61, we can have this probable scenario in which the 2nd wave is over.
In order to confirm the uptrend, the price should be stabilized above the range of 125.08, in addition, if the price crosses the range of 121.61, this scenario will be nulled, and we will probably encounter a Complex Pattern in 2 wave
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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.