Support - S1 : 133.287 | S2 : 132.668 | S3 : 132.019
Resistance - R1 : 134.555 | R2 : 135.204 | R3 : 135.823
Main Trend - Bullish
Intraday Trend - Bullish
We observe on the 4H chart of forex technical analysis for EURJPY that the price finds support at the lower side of the daily channel and proceed to a reaction almost 55% retracement. At this point, the price finds strong resistant from EMA(200) on the daily chart. Is very clear that at the same point there is the median line of Andrew's Pitchfork. For a better observation of price action, you can study 4H chart and daily chart.
Considering all the details from the charts of forex technical analysis, we can detect all critical levels and trading targets for H1 and H4 timeframes:
The area 133.000 – 133.545 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 134.550, 134.950, 135.670, 136.350.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 132.210, 131.750, 131.450, 131.000, 130.750.
The area 133.820 – 134.000 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 134.600, 135.000, 135.600, 135.900, 136.600.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 133.250, 132.550, 131.500, 130.800.
There is no Harmonic Pattern at 1H and 4H charts.
Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy. We note the need to use stop-loss levels.
You agree with our estimates? If you have another point of view, you can write your opinion in comments.
You can subscribe to one of the two subscription packages and take advantage of all benefits of the forex signals using one of the most sophisticated Forex Signals Copier, also from monitoring the live trading room, and of course from the full support in real time.
Resistance - R1 : 134.555 | R2 : 135.204 | R3 : 135.823
Main Trend - Bullish
Intraday Trend - Bullish
We observe on the 4H chart of forex technical analysis for EURJPY that the price finds support at the lower side of the daily channel and proceed to a reaction almost 55% retracement. At this point, the price finds strong resistant from EMA(200) on the daily chart. Is very clear that at the same point there is the median line of Andrew's Pitchfork. For a better observation of price action, you can study 4H chart and daily chart.
Considering all the details from the charts of forex technical analysis, we can detect all critical levels and trading targets for H1 and H4 timeframes:
4H Chart
The area 133.000 – 133.545 is a neutral zone.
Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 134.550, 134.950, 135.670, 136.350.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 132.210, 131.750, 131.450, 131.000, 130.750.
1H Chart
The area 133.820 – 134.000 is a neutral zone.
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 133.250, 132.550, 131.500, 130.800.
There is no Harmonic Pattern at 1H and 4H charts.
Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy. We note the need to use stop-loss levels.
You agree with our estimates? If you have another point of view, you can write your opinion in comments.
You can subscribe to one of the two subscription packages and take advantage of all benefits of the forex signals using one of the most sophisticated Forex Signals Copier, also from monitoring the live trading room, and of course from the full support in real time.
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