Today we present the Forex live chart for EUR/JPY.
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EUR JPY Forex trading tips
I use pivot points and target trading for the direction of trades for my forex analysis. Let’s check where the EUR JPY may lead us for the next days and weeks.
MONTHLY shows this pair has two targets. The first target is new at 123.405 – 132 pips below the current position; the second target is at 118.038 – 665 pips below the current position. The rsi and cmo is just below the sell zone. Once it reaches the sell zone then look to put a trade in on this time frame.
Weekly shows this pair has two targets, The first target is at 121.873 – 276 pips below the current position; 118.882 – 579 pips below the current position. The rsi and cmo dipped back below the sell zone. Wait until they are firmly in the sell zone before placing a sell trade which should reach the first target at 121.873.
DAILY shows all targets have been hit and there are no new targets. No trade recommended for this time frame at this time. Wait for a new target to appear.
EUR JPY in the news
Everything being equal, the EUR/JPY exchange rate could continue to trend bullish within this session. Bulls are likely to target the upper boundary of an ascending channel pattern at 122.00, according to FX Street.
n the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next according to ActionForex.
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Enjoy the week, and see you next time!
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