EURJPY re-tested the ascending trendline and reject it moving up again, now its moving sideways on the 126.500 zone and looks like it'll move high once again.
A break above 127.130 zone will be a bullish signal, added to RSI oversold confluence.
A invalidation of this setup can be around 123.200 area
A good profit target can be somewhere around 126.800 which coincide with our monthy pivot and further around 127.800 which coincide with our weekly 200 SMA.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
A break above 127.130 zone will be a bullish signal, added to RSI oversold confluence.
A invalidation of this setup can be around 123.200 area
A good profit target can be somewhere around 126.800 which coincide with our monthy pivot and further around 127.800 which coincide with our weekly 200 SMA.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Note
My mistake: A break above 125.130 was the correct levelSo far it does looks good!
Have a good day.
Note
Price is going up as expected, too much room to grown yetRemember this analysis is made based ONLY on the weekly timeframe.
Note
New setup is forming
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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.