Cabana Capitals Blog forex trading EUR/JPY: bulls are ready to set for higher highs

EUR/JPY: bulls are ready to set for higher highs

EUR/JPY: bulls are ready to set for higher highs post thumbnail image

General overview: The pair seeks for the bullish impulsive this time and set for the higher highs this time. The pair creates buy signals and creating the higher highs in the market. The market is ready to set for the buy side this time. The pair breaks through the resistance line and the structure opens and creates the fresh highs. The market sets towards the highly secure path. The pair expected to be to break the level 130.00 level. The needs to create positive volatility in the market and set towards the pure buy side in the market. The pair is favoring the market and reacts upon the currency as the demand zone is higher in market .The buyers are creating their own comfort zone and set towards the high side in market. We can see buy in the all phases of calls. The indicators are also reacting positively towards the momentum of price pattern.

Technically analysis: From the technical point of view we can say that market create the bullish side in the market. On the daily basis chart we can say that market makes the higher highs in the market . The bullish candlestick is forming as breakout can be seen in the pair .on the 4 hourly chart market is creating potential rounding bottom and setting bullish pair in the market. The minor and major EMA and SMA lines are also below the trading pair. The intraday traders are also go for buy as in the 15 mins chart pair create its higher highs and expected to set for more higher side .The market is creating higher swings in market .we can suggest traders to make their potential movement towards the buy side . The pair is creating descending channel pattern and pressure the buyers for the higher exchange rate. The support will be 129.69 and 130.00 and support will be 128.85 and 128.45.

Trade idea: Our traders will go for buy side at level 129.19 and target will be 129.79 – 130.20 and stop loss will be 128.19.

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