EURJPY hit the top of the long term Channel Up that started more than a year ago (March 2022) and is getting rejected so far. With the 1D technicals still green (RSI = 63.286, MACD = 1.680, ADX = 49.495) this indicates that the trend remains bullish so we will sell and initially target the 1D MA50 (TP = 153.000). The reason is that it has been unbroken since April 6th. If the price closes a 1D candle under it, then we will take another sell and target the 0.5 Fibonacci retracement (TP = 149.000). Otherwise every 1D MA50 hit is a buy.
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investingscope.com
Over 65% accuracy on Private Signals Channel.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.