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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 Buy Zone (125.55 to 124.60). 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 (125.55)
    • Resistance on 03/04/2016
    • Support on 03/15/2016
    • Support on 03/16/2016
    • Support on 03/17/2016
    • Support on 03/18/2016
    • Support on 03/21/2016
    • Support on 03/22/2016
    • Support on 03/23/2016
    • Support on 03/24/2016
    • Support on 04/05/2016
    • Resistance on 04/22/2016
    • Resistance on 04/25/2016
    • Resistance on 05/16/2017
    • Resistance on 05/25/2017
    • Support on 08/13/2018
    • Support on 08/15/2018
    • Support on 08/17/2018
  • Ending of entry zone (124.60)
    • Trough on 05/29/2018
    • Support on 05/29/2018

DateDecember 2, 2018 - 10:23
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 124.600, beginning of uptrend is expected.
  • We make sure when the resistance at 130.150 breaks.
  • If the support at 124.600 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg lower if price breaks and closes below the uptrend line of the triangle.
  • While the RSI resistance #1 at 54 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 127.50 on 11/13/2018, so more gains to resistance(s) 129.10 and maximum to Major Resistance (130.15) 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 47.

Take Profits:

  1. 126.65
  2. 127.50
  3. 129.10
  4. 130.15
  5. 131.10
  6. 133.10
  7. 134.40
  8. 137.50
  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) Sat, 23 Mar 2024
Euro / Japanese Yen (EURJPY) Sun, 17 Mar 2024
Euro / Japanese Yen (EURJPY) Sat, 9 Mar 2024
Euro / Japanese Yen (EURJPY) Sat, 2 Mar 2024
Euro / Japanese Yen (EURJPY) Sun, 25 Feb 2024