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Weekly forecast Euro / Japanese Yen technical chart
Symbol EURJPY

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Trade Setup

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (118.45 to 115.95). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (118.45)
    • Support on 02/27/2017
    • Support on 11/29/2016
    • Support on 11/24/2016
    • Peak on 07/22/2016
    • Resistance on 07/21/2016
    • Peak on 07/21/2016
  • Ending of entry zone (115.95)
    • Support on 11/15/2016
    • Resistance on 11/09/2016
    • Resistance on 11/08/2016
    • Resistance on 11/07/2016
    • Resistance on 10/07/2016
    • Resistance on 10/06/2016
    • Resistance on 10/05/2016
    • Resistance on 09/14/2016
    • Peak on 09/09/2016
    • Resistance on 09/09/2016
    • Resistance on 09/02/2016
    • Resistance on 09/01/2016
    • Support on 07/28/2016
    • Support on 07/21/2016
    • Resistance on 07/13/2016
    • Resistance on 07/12/2016
    • Support on 06/16/2016

DateMarch 5, 2017 - 09:27
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend.

Technical analysis:

  • A trough is formed in daily chart at 118.25 on 02/24/2017, so more gains to resistance(s) 121.40, 123.55, 124.65 and more heights is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 56.

Take Profits:

  1. 121.40
  2. 123.55
  3. 124.65
  4. 126.80
  5. 128.20
  6. 129.65
  7. 132.20
  8. 135.00
  9. 141.15
  10. 145.70
  11. 149.15
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Japanese Yen (EURJPY) Sun, 14 Apr 2024
Euro / Japanese Yen (EURJPY) Sat, 6 Apr 2024
Euro / Japanese Yen (EURJPY) Sat, 30 Mar 2024
Euro / Japanese Yen (EURJPY) Sat, 23 Mar 2024
Euro / Japanese Yen (EURJPY) Sun, 17 Mar 2024