EURO / JAPANESE YEN H4 Time Frame
Major Trend = Uptrend
Minor Trend = Downtrend
Nearest Support Area = 145.558-147.358
Nearest Resistance Area = 150.800-151.000
Overall Bias = Long
Short Term Target = 149.550-150.050
Ideal Target = 155.000-156.950
Invalidation Level = 143.600
Notes :
EURJPY like other JPY Pairs have been in a strong uptrend since earlier last year with price getting particularly strong after its recent break out of major resistance level. Currently price is in its 4th micro correction wave of its bigger 3rd minuette wave.
Our 1st Main And "Ideal" Scenario is the black paths where price will rebound to 149.550-150.050 in the short term with a longer more "ideal" target around 155.000-156.950. This scenario will still be valid as long as price stays above 143.600.
Our 2nd "Best Case" Scenario is the green paths where price will continue higher once it reaches its ideal B wave length and not offer a deeper correction
Major Trend = Uptrend
Minor Trend = Downtrend
Nearest Support Area = 145.558-147.358
Nearest Resistance Area = 150.800-151.000
Overall Bias = Long
Short Term Target = 149.550-150.050
Ideal Target = 155.000-156.950
Invalidation Level = 143.600
Notes :
EURJPY like other JPY Pairs have been in a strong uptrend since earlier last year with price getting particularly strong after its recent break out of major resistance level. Currently price is in its 4th micro correction wave of its bigger 3rd minuette wave.
Our 1st Main And "Ideal" Scenario is the black paths where price will rebound to 149.550-150.050 in the short term with a longer more "ideal" target around 155.000-156.950. This scenario will still be valid as long as price stays above 143.600.
Our 2nd "Best Case" Scenario is the green paths where price will continue higher once it reaches its ideal B wave length and not offer a deeper correction