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Eurjpyidea

EURJPY Dual-Direction AnalysisWait for confirmation on level 129.500 for buy/sell Overall Reasoning: - Level 129.500 has shown good reactions in the past (Scroll back to see) Sell Reasoning - Trend line was broken with a strong bullish push causing a S&D imbalance which is expected to be filled and retest trendline - Overall trend is still bearish (Unless price rejects level 129.500 and moves higher) - Wait for a break and retest of 129.500 level to sell. Buy Reasoning: - Price formed a long-term double bottom on level 128.000 - Broke previous lover high (Red), waiting on a retest. - If price retest level 129.500 with bullish confirmation, look to go long. (Aggressive) - Wait for a considerable retracement between 129.000-129.5000
by NoahXBorg
EURJPY Forecast1) Top-down analysis Monthly - Previous monthly closure, Potential Inside bar and does not fill the wick of previous candlestick Weekly - Previous weekly candle closure, closed with doji candlestick and Closed inside the range inside of the previous candlestick Daily - Two candlestick rejection on 130.500 (Major psychological level) The bias is still upside due to doji from last two weekly candle. But still it has a high probability that it will go down further first to get some liquidity before going upside. Confluences for downside movement; a. Main trendline third touch b. Major psychological level 130.500 c. 4H Corrective
by Chiguuu