I expect the price to rise as is shown on the chart.
(Might be good to go long after looking at an inverse head and shoulders)
Target : 20-day moving average (blue curve)
The level 1.802 seems to be working as a support level by switching roles with resistane.
The 20-day MA and the 20-hour MA may also help the price to move up further.
Target 1.815-1.82
As far as I see the short-term moving averages (20MA, 50MA), momentum to the downside seems to be getting large.
Going short would be good strategy.
Traget price : 0.66-0.668
I have had a long position because it looks like the pair is supported by the moving averages.
I will see if it will break the trend line and the recent high to upward.
Best wishes to all.
I think this uptrend will continue for a while;
the double bottom and the moving averages turning to the upside would support this trend.
It might not be a good idea to buy soon because prices seem to be in a corrective wave.
I will wait a signal to go long at the neck line or at a moving average.
The closing price was above 108, which is actually a key price for this pair.
If the negative sentiment caused by coronavirus does not get worse,
this pair may show a move to be back to 109-109.5 next week.
I will also see if the price can move up above two key moving averages, 20-day and 100-day.
If it fails to do so, sentiment to the downside might be stronger.
Momentum to the upside seems to be getting weak, and
if the 20-day moving average (blue) plays a role as resistance for the price
we would find a good chance for sell, expecting a drop to around 111.
The price was supported by the low yesterday, but I think there is a room for the price to move down further.
The falling moving averages (blue and green) might prevent the price from moving up.
Target would be 111 or 100-day moving average.
On a daily chart of this pair threre seems to be a resistance zone around 1.33-1.34,
so I currently have some bearish ideas, which are shown on the 4H chart.
If I find a bearish chart pattern/price action when the price is rejected by the moving average, I will go short.
I have a long position now for the exchange rate, with stoploss 0.967 and target 0.98-0.985.
The grounds are (1) a higher low shown, (2) the slop of the 20 moving average turning positive.
It looks like the exchange rate has tried to remain above the yellow line and
20 moveing average, which can be a reason for me to go long
with stoploss being at the bottom of the candle in the red box : 0.98.
The pair EURJPY made a lower high price and crossed over the 20 MA to the downside.
I assume that a long term trend is to the upside but I think it will have short-term corrections.
taking a profit when it reaches the 120 MA, stoploss around 122.2
100 MA is almost flat and just under the price, which I expect would be rising and support the uptrend.
Breaking the yellow line to the downside was rejected three times last month.
I think momentum to the upside has been increasing as I take these things into account.
