EUR/JPY: Bullish trendline break
On the daily chart, there is a clear break of a downtrend line with a confirmed weekly close above it - unlike during the liquidity grab where the price broke higher but then closed the week under the trendline.
This broken trendline and Friday’s low at 161 is now support. Should the price be able to break above the August peak, a next possible upside target is 167.5 (the 61.8% Fibonacci retracement of July-August drop.
But that’s just what we think, do you agree or disagree?
Send us a message and let us know
Happy Trading!
Jasper, WeTrade Market Analyst and Founder of Trading Writers.
This broken trendline and Friday’s low at 161 is now support. Should the price be able to break above the August peak, a next possible upside target is 167.5 (the 61.8% Fibonacci retracement of July-August drop.
But that’s just what we think, do you agree or disagree?
Send us a message and let us know
Happy Trading!
Jasper, WeTrade Market Analyst and Founder of Trading Writers.
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Market Analyst for:
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Key To Markets
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tradingwriters.substack.com/
Market Analyst for:
WeTrade
wetradebroker.com/education/analysis/jasper/
SpreadEx
spreadex.com/financials
Key To Markets
keytomarkets.com/
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Signup to my newsletter:
tradingwriters.substack.com/
Market Analyst for:
WeTrade
wetradebroker.com/education/analysis/jasper/
SpreadEx
spreadex.com/financials
Key To Markets
keytomarkets.com/
tradingwriters.substack.com/
Market Analyst for:
WeTrade
wetradebroker.com/education/analysis/jasper/
SpreadEx
spreadex.com/financials
Key To Markets
keytomarkets.com/
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.