The moving of EURJPY
As we can see, the last upward trend movement was five days ago. Then we had it go down for a little bit. Now, the price is around 125.86, which is the 0.618 level of Fibonacci.
Is this a time for a turning?
There is not enough signals to prove it.
The MACD is still in a downward trend and no signal for the cross.
For the RSI, from my point of view, this is a signal for bullish, because the line stopped going down.
The Bollinger Bands shrunk, which is a signal for a change soon. However, we do not know the direction.
Ichimoku cloud is just at a medium level, so still vague.
I still believe that the recent downward movement is a retracement for the previous upward trend.
We do not have enough evidence to make a prediction and that we need to wait for the price to make a move. Let’s wait to see more signals.
Is this a time for a turning?
There is not enough signals to prove it.
The MACD is still in a downward trend and no signal for the cross.
For the RSI, from my point of view, this is a signal for bullish, because the line stopped going down.
The Bollinger Bands shrunk, which is a signal for a change soon. However, we do not know the direction.
Ichimoku cloud is just at a medium level, so still vague.
I still believe that the recent downward movement is a retracement for the previous upward trend.
We do not have enough evidence to make a prediction and that we need to wait for the price to make a move. Let’s wait to see more signals.
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