Here are 4 near-term opportunities for EURJPY.
There is a strong uptrend on the 4hr mirroring the bull run shown on the Daily time frame. I believe price will continue to ascend before it reaches the monthly descending resistance shown in blue at the top of the chart.
Today I will be watching out for an opportunity to buy on the 125.5 support, with a target area...
2 KEY AREAS CIRCLED = POINTS OF ENTRY
Here are 4 ideas for direction in the EURAUD.
I'm personally long for the EURAUD. This is a clear direction due to the ascending trend on the weekly timeframe.
Break above 1.655 = target area 1.665.
Price respects ascending support at 1.645 = next target area of 1.655 - 1.665.
Any alternative to these predictions is...
Looking to sell EURJPY if price breaks through support level of 118.50 with a T/P at 116.60 .
However if price contradicts this and climbs above 119.50 , an entry for a buy looks more likely with a T/P at 121.40 .
This is purely technical analysis, with no fundamentals considered. Nonetheless, checking fundamentals will be essential before placing the trade.
