EURJPY buying (long) opportunity

30 พ.ย. 2022

Hello traders, today we want to share our view of the EURJPY.

The long-term cycle is bullish and we believe there will be at least one more swing high or, in other words, another bullish cycle. This idea has the target of taking profit from this bullish cycle,

There are two potential paths as we showed in the graph
1- Our forecast is that EURJPY will have to make another low before reaching the green area (which is the expected target the corrective structure WXY should reach before turning up) and then, we will buy EURJPY in the green zone.
2- Alternative path- The price will not reach the area and EURJPY has already ended 2 and it will start this bullish cycle before reaching the green area

In both cases, in the medium term, we expect EURJPY to go up. Therefore, we can prepare to buy the EURJPY soon.