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Weekly forecast Euro / Japanese Yen technical chart
Symbol EURJPY

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (130.95 to 131.75). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (130.95)
  • Ending of entry zone (131.75)

DateOctober 2, 2021 - 21:27
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 134.100 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 130.47 on 09/29/2021, so more losses to support(s) 128.50, 127.95, 126.60 and more depths is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 46.

Take Profits:

  1. 129.15
  2. 128.50
  3. 127.95
  4. 126.60
  5. 125.25
  6. 124.40
  7. 122.85
  8. 121.60
  9. 119.30
  10. 117.10
Click on the level to view price action history.

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