FX.co ★ Ahmad-Hussain | EUR/JPY

EUR-JPY PAIR ANALYSIS

Based on the H4 TF reference, it can be seen that there is a slow bullish movement after previously the price had decreased to make a correction to test the movement limit of Ma 50 (red). The target of the current bullish movement seems to be trying to test the nearest base supply limit above it, at around 168.77. It seems that there is potential for the price to experience a bullish rejection condition in the range of the supply area to try to carry out a bearish correction phase again with a further target to form a new lower in the range of this week's lowest price area at 165.64. Even though the trend is still bullish, it seems that the price has moved up quite far and requires a further bearish push downwards to be able to get a bullish push with an upward target that can again set a new record high price. TRADING PLAN Based on these conditions, sales considerations can be taken into account first to enter from the signals 168.70–168.90. The downward target for this price level range can be planned to reach the demand area below it at around 167.33 and has the potential to continue to test the support area at around 165.64. The selling plan could place the risk of losses above the 169.50 level. For purchasing considerations , it can be taken into account, for example, if the price decreases and experiences a bearish rejection condition in the demand area at 167.33. A purchase plan can be carried out if there is more valid bullish price action to try to push the increase back to reach the supply area above it at around 168.77. And continue to try to reach back to this week's highest price limit at around 171.50. SL placement of the buy plan can be considered below the level of 166.30.