Technical analysis for trading/investing
Technical analysis for trading/investing
Currencies | EUR/JPY | Trend notes for 2021
The pair formed double bottoms on the monthly chart in May 2020 rejecting the support around 115.00. The weekly chart is now within 3rd wave of the bullish trend, the first target of this wave is the 1.272 FIB around 137.50, however before that we need to see a break above 127.00 and then break above dynamic resistance around 130.00.
We have multiple support levels below 125.00 which may provide support and resumption of the bullish trend in case of rejection.
Monthly chart:
Weekly chart:
The price is approaching key resistance between 117.70 – 118.60, rejection of the resistance will…
The price broke above key dynamic and horizontal resistance and is now within its 3rd…
The pair rejected strong support around 75.00 and started a bullish run. At the moment…
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