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Weekly forecast Euro / Japanese Yen technical chart
Symbol EURJPY

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (133.20 to 134.40). 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 (133.20)
    • Resistance on 11/16/2017
    • Resistance on 11/06/2017
    • Resistance on 11/02/2017
    • Peak on 10/03/2013
  • Ending of entry zone (134.40)
    • Resistance on 10/26/2017
    • Resistance on 10/25/2017
    • Peak on 09/22/2017
    • Resistance on 09/22/2017

DateNovember 18, 2017 - 18:02
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

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

Technical analysis:

  • A peak is formed in daily chart at 133.90 on 11/15/2017, so more losses to support(s) 131.65, 129.65, 128.20 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. 131.65
  2. 129.65
  3. 128.20
  4. 126.80
  5. 124.10
  6. 122.30
  7. 118.45
  8. 114.85
  9. 112.60
  10. 109.95
Click on the level to view price action history.

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