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Weekly forecast Euro / Japanese Yen technical chart
Symbol EURJPY

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateFebruary 2, 2019 - 17:40
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 125.55 would begin in Midterm.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • While the RSI resistance #2 at 54 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 125.10 on 01/09/2019, so more losses to support(s) 122.30, 118.45, 114.85 and more depths 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 52.

Supports and Resistances:

  1. 149.15
  2. 145.70
  3. 141.15
  4. 137.50
  5. 134.40
  6. 133.10
  7. 131.10
  8. 130.15
  9. 129.10
  10. 127.50
  11. 126.65
  12. 125.55
  13. 122.30
  14. 118.45
  15. 114.85
  16. 111.25
Click on the level to view price action history.

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