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Eurjpyforecast

is eurjpy forming a downward channel?on the 8 hrs we can see eurjpy establishing a downward channel which, i have reasons to believe is forming, because of Europe's instability & inability to control inflation i.e. on a broader look on the 3 day we can see eurjpy finish forming the head which i will publish after key points: . with the breakout of the jpys we see extreme volatility . market tends to react strong to opec and largard meetings . ecb aggressive rate hike to combat inflation spark concerns to whether they downplayed it . due to its extreme volatile nature trading it on the 8 hrs would reap most profits take away: . after the breakout we see eurjpy reaching a high of 144 however failing to break it 3 times which establish a roof/head . it later found support @139 to retest the high of 144 which it failed to break > a 139 was created when Ecb hints at a rate hike . after rejection @ 144 we see it found support @137 to go as far as 142 > 142 rejection was created when Ecb implement a very aggressive rate hike of 50 points which sparks the question, will this aggressive hike spark a recession? . with that information we can draw our channel line to see that price is down trending with resistance of (144, 142, ???140-138) and support of (139, 137, 135) > i.e. an interesting look at this chart is that price breach 135 but did it form the head and is this final trend bounce the right shoulder? outlook: . if price holds 135/136 we can buy and hold to 138/140 where the counter trend line is . if price can't maintain this region, we sell right to back 133 which will be current support previous resistance. . after the price goes back to 133 we take profit and wait for more information to see if price will break this neckline
Short
by shermuelinvesting
EURJPY - FUNDAMENTAL AND TECHNICAL VIEW#EURJPY - - EURJPY has a short-term UPSIDE BIAS at the moment. Maybe it can reach 139.202 LEVEL. 139.202 is a very good RESISTANCE limit. - Some NEWS coming for the USD will help weaken the EURO. Here the price can be pulled down one more time by RESPECTING the EURJPY TRENDLINE very well. It may come down to 135.116 LEVEL. - Somehow the price moves to the area I mentioned and its trend line If the BREAK is done, the EURJPY price can definitely be BUY if the DOWNSIDE CHANNEL is BREAKED. For that, EURO STRONG and MARKET RISK must be ON.
by benny_marshall
EURJPY | New perspectiveWith my key level at 143.000 area, I have a strong feeling that the tendency for a bullish continuation is going to happen as long as we do not have a breakdown/retest of the bearish trendline identified on the 1H time frame. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry