FX.co ★ EUR/JPY

EUR/JPY Technical Analysis. A long trend movement can be seen on the EUR/JPY hourly chart. As can be seen from the chart, this is confirmed by the indicators. Due to its position below the price, the 100-period moving average confirms a north direction. The relative strength index chart confirms the extreme rise, so the structure is bullish. As of today, I'm considering selling at 164.90, with an income target of 163.30, and an additional income target of 163.00, with a stop loss of 165.20. During the day, sales are also possible, but only if the pair is fixed at 163.30. During the day, sales are also possible, but only if the pair is fixed at 163.00. To limit potential losses, sales should be closed at 162.80. To restrict possible losses, sales should be. Since the closing of the hourly candle occurred at the level of 163.90 relative to the moving average, and the zigzag indicates the movement's structure, the moving average and zigzag indicators confirm the upward direction of movement.

In favour of simplicity, I recently abandoned award-winning systems and other indicators. Based on the Relative Strange Index indicator, this trading strategy is well-proven. On the chart, there is only him and nothing else. Successful trading requires a clear understanding of overbought and oversold conditions. This dynamic is reflected in the RSI indicator. Overbought markets may lead to lower prices when they reach 70. The price chart also reflects this level: 163.30. I open a position at the current price. We sell according to the market, without complicating anything for simplicity. By taking this proactive approach, capital is safeguarded, and trading practices are disciplined and foresighted. We expect the EUR/JPY market to provide us with further chances to cross the next level of 165.32 soon. To do so, we need to pay attention to the new data coming in, and by doing so, we will be able to recognize future changes in the Euro/Japanese exchange rate.