Forex Trader DailyIf the 108.10 to 108.20 area can continue to support the shallow uptrend on the 60-minute chart of the EUR/JPY look for a continuation higher towards the previous high at 109.55.
Chart date range
16-Aug 07:00 GMT-> 02-Sep 21:00 GMT
Data Interval
Hour
Resistance Levels
(B)
109.551
Last resistance turning point of Triangle.
Support Levels
(A)
106.237
Last support turning point of Triangle.
(E)
106.162
Last support turning point of [...]
The 30-minute EUR/JPY has broken lower through the lower line of the Falling Wedge formation that has formed and trigger a short sell as prices have traded through support.
The downside target is near the minor psychological level at 110.84 and there could be a bounce frmo this nearby target due to the intraday double bottom that could [...]
The U.S. Dollar is regaining strength in the Asian session as the bulls a rallying the index higher towards the 87.00 level that was broken today as the equities market recovered from early morning losses. The Dow Jones futures have traded back lower after what was a bullish after-hours.
In the meanwhile, the AUD/JPY downtrend continues as [...]
In the intraday chart of the EUR/JPY is heading towards the prior high at 124.90 where prices exhausted in front of the 125.00 major psychological level. This level could become a double top if prices lose buying momentum once again. If so, look for a pullback to the support waiting at the 34 period EMA [...]
As the EUR/JPY battles with the 125.00, the swing buy has already triggered on the 60-minute chart at 125.12. If prices can establish support above the big figure, look for another move towards recent highs.
Entry 125.12 buy
S/L 124.75
Target 125.50
For educational purposes only.
The EUR/JPY has been trending lower across intraday time frames however only the four hour chart is maintaining a downtrend as the 15, 30, and 60 minute charts are transitioning to a more sideways market cycle.
The 122.57 level is the short trigger for the current downtrend on the four hour chart. The 34EMA Wave is [...]
The EUR/JPY has been trending lower as the mark down cycle is reflecting the yen losing ground against the euro. The 121.56 level is the near term support as prices are beginning to find a range. This range could be important to watch since the 121.50 level is likely to be strong support. If the market cycle transitions from [...]
Risk appetite helps rally the yen and a strong U.S. Dollar weakens the euro…it’s a double whammy for the EUR/JPY as the euro loses ground against the yen.
The rising wedge on the 30 minute chart has pierced as prices are breaking lower through the uptrend ine support level of the pattern. Look for continued downside as the euro continues [...]
The 15 minute EUR/JPY is heading lower in a mark down as prices are testing the 126.20 to 126.05 level. Ideally a bounce to the 34ema low would be a great short swing trigger however prices have yet to bounce high enough to the the 34ema low. The alternative is to find a key level in front [...]
The EUR/JPY is moving sideways on the 30 and 60 minute time frames as indicated by the low Initial Trend readings on the both chart alerts.
This non-trending market cycle is ideal for triangle formation set ups. The 30 minute chart has already traded higher through the downtrend line resistance of the Continuation Triangle pattern alert [...]