EURJPY – Is there a possible long term play here…..
A possible Long-Term setup Trade would be the EURJPY. So let us look at the weekly chart (posted below) You will notice on the hard right edge Price has managed to breakout higher after a consolidation period in excess of 3 months. We have all the requirements to back up the upside narrative. Indicators doing their bit too. Let’s look at what we do have:
- Price is trading above the moving averages
- Price is trading above the central pivot levels for each timeframe
- RSI is in positive territory
- MACD is the only one with a question mark. It’s on its way to moving bullish — not quite there.
So risk exposure wise – more pros, fewer negatives. Where is there a possible target? Well, the 2021 high back in May would be one possible
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