The EURJPY pair has hit the 147.750 Resistance after a strong rally that started a month ago at the bottom of the 1 year Channel Up. The key 1D technicals are firmly bullish (RSI = 65.143, MACD = 1.070, ADX = 55.694) suggesting a strong green trend but as the price is approaching the HH trendline, the greater the probability becomes for a 1D MA50 pullback. This is in line with the previous two bullish waves to the top of the Channel Up.
Consequently, we expect a pull-back here or slightly higher and will be looking to buy on the 1D MA50. The target can be quite high but we will settle with a TP = 150.000.
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Consequently, we expect a pull-back here or slightly higher and will be looking to buy on the 1D MA50. The target can be quite high but we will settle with a TP = 150.000.
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Free Channel: t.me/investingscopeofficial
Disclaimer
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Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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.