Jump to content

Dip buying in EURJPY


Recommended Posts

Buying dips in EURJPY offers ample risk/reward.

 

Monthly: The long-term outlook is bearish for the cross with an Outside Month posted from February. The Ichimoku cloud capped buying. The Marabuzo level (mid-point form open and close) is located at 132.74

 

Daily: Levels below bespoke support at 129.58-45 continue to find buyers. We are close to a Demark exhaustion count on the daily chart.

 

Intraday (two-hours) – Another dip to our bespoke support could possibly form a bullish reverse Head and Shoulders pattern. Buying close to this zone (129.77-128.58) offers a good risk/reward set up. On a break of 132.00 the measured move would be 134.75

EURJPY IG 2.png

 

 

In regards to the PIA analysis, no representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      20,040
    • Total Posts
      88,056
    • Total Members
      69,031
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    hame0531
    Joined 29/09/22 10:37
  • Posts

    • Hi @HYDROCARBON Your requests have been submitted. Thank youAll the best - MongiIG
    • BRENT CRUDE OIL (LCOC1) TALKING POINTS Demand-side factors continue to dominate. Will OPEC trim supply again? BRENT CRUDE OIL FUNDAMENTAL BACKDROP Brent crude oil rallied yesterday on the back of a weaker U.S. dollar coupled with a notable decrease in U.S. crude oil stockpiles as revealed in the EIA weekly report. This morning has seen a resumption of the downward trend as the dollar is bid once more, making yesterday’s move largely attributed to oversold levels as well as quarter-end rebalancing. Markets are still focused on demand destruction and a global recession as opposed to supply-side concerns. Full article: Sep 29, 2022 | DailyFX Warren Venketas, Analyst
×
×
  • Create New...