Forex Market Analysis – EURJPY POSSIBLE SWING!!
Price is following our four row channel,creating HH,LH on each time frame ,and yesterday broke our 3rd row trend to go and bounce perfectly on our Mp point of PRZ and trend line zone and nw is going up i wont buy until the flag inside the channel get broken,if it does i mexpecting a 200 push to the upside
In Other View Point – EURJPY 1H FRAME
The top for the wave b (green) appears to be in place, thus now it’s time for a further decline below the intraday support at the level of 122.56. If the corrective cycle is going to unfold as a simple abc correction, this should be the last wave of the corrective progression to the downside. Otherwise, the corrective cycle might get more complex and time-consuming and evolve into a pattern like a triangle. Support/Resistance: 124.43 – WR1 124.07 – Intraday Resistance 123.01 – Weekly Pivot 122.56 – Intraday Support 121.93 – WS1 120.52 – WS2
In Other View Point – Long Opportunity on EUJPY
EUJY is approaching my PRZ, you see on the chart 121.84 and 120.96 has been tested in the past. i think market can reverse somewhere within the zone. we can use our entry techniqe in the lower TF to get into the trade. or we can wait for the bullish bat pattern to complete.