EUR/JPY Bulls are Waiting in the Ambush

The EUR/JPY is ranging but there is a possibility that the price will bounce. Watch for the POC zone or break higher.

At this point we can see that the price is rejecting D H3 and the lower trend line. We could see a bounce towards the D H5/W H5 128.92. However if we see a retracement, watch for 126.70. There, buyers might be waiting to spike the price up. The final target is 128.92. A break below 126.60 and bears are taking control.

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Cheers and safe trading,

Nenad

 

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.