Eur Jpy forecast Euro Yen technical analysis on 08-30-2010

eur jpy forecast 2019
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Eur Jpy forecast Euro Yen technical analysis 

Eur Jpy forecast Euro Yen technical analysis through W.D.Gann’s cycles.

eur jpy forecast
Euro Yen may 2019

Eur Jpy forecast Euro Yen medium term technical analysis

After a long positive lateral phase lasting from June 2018 to December 2018, the European currency has broken the 1 X 2 angular dynamic support (yellow colored in slide), determining the end of the Up trend and the beginning of a wide lateral phase .

The bearish break of Euro in January has reversed the long-term cycle, resulting in monthly dynamics alternating between values in 118.80 and 129-130 area.

The last dynamic cycle in expiration was in May 2019, which led to the negative conclusion of the currency at 121.05.

The continuation of trading below 120.55 level will confirm the weakness of the single currency. First angular supports in 118.50 area.

The achievement of 127.60 will be the first important signal of positive reversal. The birth of a new upward movement in the medium term will find its first resistances at 123.50; 124,50; 128.

Euro Yen quarterly technical analysis

eur jpy forecast
Euro Yen quarterly may 2019

It is clear in the quarterly time frame that both the 1 X 4 ascending corner and the 1 X 4 descending corner has determined the lateral dynamics of the European currency against the yen.

The main dynamic downward resistance (blue colored in the slide) starts from the top of the third quarter of 2008, which determined the subsequent top of the fourth quarter of 2014 and the subsequent maximum of the first quarter of 2018.

The angular support started in the third quarter of 2012 (blue colored in the slide) has blocked the descent in the last quarter of 2014 and is holding back the downturn in the second quarter of this year.

If prices will abandon the upward support they will find as first static obstacle 109.50 area.

While Euro positive recovery will be restrained once again by the downward resistance which will rate 131.50 area.

Euro Yen analysis report was created thanks to Top Trader© free exchange software.

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