EUR/JPY Is Bullish While Above The Trend Line

Dear Traders,

The EUR/JPY is trying to break higher above the trend line. If the price succeeds in staying above, then the next target could be W H5.

120.55-70 zone should provide buyers with fresh momentum. If the market gets addiotional impulse we should see a continuation towards 120.85. Above 120.85 we should see a push towards 121.30 and 121.56. Ideally, the price should not drop below 120.00 for this scenario to succeed. The recovery in EUR/JPY also puts the price in the risk on mode and the equities might go up too.

The Analysis has been done with the CAMMACD.Core and Sit Systems

 

Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.