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Thread: EURJPY Strong Support

  1. #1
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    Default EURJPY Strong Support

    EURJPY has reached a very strong support level - 130.0. It is also a round number which is psychologically strong, and coincides with a strong support trendline in 4-hour chart. This leads to bullish movement in this pair.
    Traders can join the trend if the pair makes another bottom, creating a double bottom. Entry can be exactly at the second bottom, and at the neckline (at breakout or pullback).

    Analysis source:
    EURJPY Support Level | Support and Resistance Trading
    Attached Images Attached Images EURJPY Strong Support-eurjpy-support-28-09-09-jpg 

  2. #2
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    Weekly forecast for August 3-7. Dominant bias: Bullish. Although there is a measure of strength in the EURJPY cross, the situation looks delicate. The supply zone at 137.50 could challenge further rally in the market, and the possibility of a bearish movement starting anytime is high because the outlook on JPY pairs for this month of August is bearish.


  3. #3

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    There is a slight downward trend here. I guess, bears is too strong now, so bulls can't break this trend.

  4. #4
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    There is a strong downward trend, so bears have all iniciative. I guess, sellings are still actual now.

  5. #5

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    Well, there is a sideways trend here, bears and bulls can't have an advantage. So, I am waiting for any trading signal, and keep away from trading for a while.

  6. #6
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    There was a big growth on Friday, so obviously some downward correction is expected to appear on Monday.

  7. #7
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    Well, I guess there will be a good downward trend here, because bears have big pressure now.

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Tags for this Thread

breakout, eurjpy, level, resistance, source, support, trading

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