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.

Торговый сигнал

Buy:  140.00-140.50

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

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