EUR/JPY with Leonid Vereschagin
By Leonid Vereschagin, independent trader and analyst
EUR/JPY technical - February 18
Chart 1. Daily EUR/JPY
At the daily chart we have a clear flag, so the upside move is likely to resume. MACD went above 0. However, be cautious as the pair has tested the trend line.
Chart 2. H4 EUR/JPY
At H4 the pair breached the resistance line bottom-up (H4 trend line). The flag area is 138.90-140.05. The upper level is a support for the current price and is the best place to enter (buy). We propose 140.35 for going long.
Stop Loss: 139.34
Take Profit: 142.35
Chart 3. H1 EUR/JPY
Chart H1 emphasizes the need of long – watch the trend line.
Conclusion: buy-signal is confirmed