EURJPY ---> Think about buy:Good day, dear investors and colleagues traders!
Your attention a technical analysis of the currency pair #Eurjpy:
* Commentary last week:
The currency pair could not stay afloat, as it was the year before last, taking advantage of the weakness of the yen. The nervousness of investors regarding a rapidly growing epidemic is likely to lead to the growth of the Japanese currency in the medium term. But the current global sale of the euro looks excessive and should end soon.
The currency pair this week decreased by 122 points (-1.02%).
* Technical comment:
Almost identical picture as in the euro / dollar. Oversold is also located on all senior time frames (H4, H8, D1). The only difference is the increase in amplitude, the coefficient R.
Support and resistance levels for the current week:
Resistances:
Supports:
* Orders and positions:
Our valuation system demonstrates that the currency is in the potential buying zone, it also begins the consolidation period at current levels and, like the euro / dollar, Monday will be important for the formation of the rebound zone.
Thus, our potential deal is as follows:
Buying from current levels to 118.50 with #stoploss 118.40-118.00 and #takeprofit: 120, 121, and possibly 122.
Best regards
Ltd ”Wermelgion and Partners Investment”
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