Hi Traders! EURJPY forecast update and follow up is here. On June 30th I shared this “EURJPY Forecast” in Trading View. In this post, let’s do a recap of this setup and see how it has developed now. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club. Spoiler alert – free memberships are available!
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Now let’s summarize the idea first:
H1 –pattern followed by double wave correction.
Expecting further continuation higher until the uptrend line holds.
EURJPY H1(1 Hour) Chart Current Scenario
Based on the above-mentioned analysis I informed that until the uptrend line holds my view is bullish here and I expect further continuation higher. The price moved perfectly as per my plan on the H1 chart. The price moved higher exactly as I expected delivering around 90 pips move before the bearish divergence came into play.
So, traders, this is why I wanted to show this example to help you understand how important it is to follow the facts. The facts were supporting the bullish view here and there were no signs against it. When the facts do happen as we expected you can see how the price perfectly moved as per the plan. Because these are the kind of hints the market provides us at majority of the times and it’s our obligation as traders to be able to listen to these things that the market tells us and we should try to make the right actions.
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To your success,
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