EURJPY Technical Overview and Trade Setup
Our previous EURJPY trade reached its second target and generated 100 pips so far.
Latest Germany Factory Orders data is showing that the industrial slowdown continues in Eurozone. Safe haven assets are getting demand.
EURJPY is trading below EMA 50 on the H4 chart and testing the Ichimoku Cloud support. The pair is likely to test 124.600.
Breakout of the zigzag trendline will trigger the bearish move. Estimated breakout level is 124.400.
Targets of the pair will 123.830, 123.420 and 122.650.
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
EURJPY: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility