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Eurjpyforecast

EURJPY – The completion of Diagonal PatternEURJPY – 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
Long
by NirmataFX
4
We are waiting for a strong uptrend in 3rd Wave.In the daily chart, the downtrend has ended in the range of 109.21 and the price has completed the first 5 wave in the range of 137.50. The downtrend in the B / 2 wave with a form of 3 structure and the Ending Diagonal pattern has been completed in the range of 114.42. Then the first wave from point C / 3 is completed and its corrective movement has ended in the range of 121.61 and 3rd wave from this point has started. Currently, we can have a buy order on this currency with a loss limit in the range of 119.50 and the first target can be 133.07. which is too long-term target.
Long
by NirmataFX
EURJPY: Good place to join in on the sell with low riskI can see price has been making lower highs and lower lows after a 4 months uptrend. An early sell entry would have been after formation of double top at the 125.000 level, that signaled a push to the downside. We currently see that price did a pullback to the key fib level and 200MA acting as dynamic resistance here. Multiple wick rejections in this area of resistance confluence suggests an end of pullback and continuation of move to the downside. On the H4 timeframe, the details of the multiple wick rejections will be seen better. A short position here with SL some buffer away from resistance confluence will put your position at low risk with a potential for a much higher return. Cheers!
Short
by Chinedumnweke
1000 Pips Movement BonusWith price ascending to the area of 127.05, three corrective uptrends have been completed and the price is ready to drop further. The range of 127.07 is a very important area: In weekly time frame, this range hits the bearish trendline, which is located in the 50% Fibonacci range, which increases the advent of a downtrend. To confirm the downtrend, the price requires to cross the range of 123.01, when this happens, the downtrend line will break out (the red dotted line). However, if the price can be closed above the range of 127.07, this analysis will be nulled.
Short
by NirmataFX
3