ONLY for today with current circumstances, I will be a bull on this pair. There has been positive data for EUR yesterday (i.e. French Trade Balance) being better than the forecast. The ultimate reason is that this pair has reached its it’s monthly, weekly and almost daily short pivot points targets as will be seen on their respective charts. With profit taking, bull will see this as an opportunity to push the pair to the Central pivot point.

EURJPY Daily

Market (EMAs:21 & 55) is represented as flat, price (EMA:5&8) is also flat and price currently at 119.875 and has just bounced off the MM1 monthly short profit target. Stochastic in an oversold zone.

EURJPY H4

Market (EMAs:21 below 55) is showing and bearish trend and price (EMA:5&8) is also bearish. Stochastic in an oversold zone.

EURJPY H1

On H1, Market (EMAs:21 below 55) is represented as bearish and price (EMA:5&8) is flat.. Price is ranging between resistance at 120.115 and support at 119.578. I would consider going long as soon as there is a pull back to the support at 119.578 and also looking at the smaller time frames for reversal patterns and or role reversal entry points.

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