EUR/JPY Targeting the ATR Projection High

Hi traders,

The EUR/JPY is making a bullish zig-zag which is supported by an ascending trend line. We should see a continuation of uptrend.

The JPY weakness might continue today and during this week. The POC zone 126.50-75 is supportive on a positive bullish momentum. We can spot a T-89 pattern along with a trend line rejection. As long as 126.25 holds, intraday bulls should be safe. The highest projected target is 127.32.  Intra-week longs might target W H3 camarilla pivot 127.76. 4h close above W H3 will target W H4 128.36. Watch for POC rejection and/or continuation of the bullish trend.

The analysis has been done with the CAMMACD.MTF template.

Join Elite CurrenSea’s Forex and CFD seminar in Croatia on March 14th.

For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire

More From FXEMPIRE:

• Gold And Silver sideways; Goldman Sachs And TDS See Upside Potential

• GBP/JPY Price Forecast – British pound pulls back against Japanese yen

• GBP/USD Price Forecast – British pound pulls back

• Natural Gas Price Fundamental Daily Forecast – New Forecast Calling for Cold to Extend Beyond March 15

• S&P 500 Price Forecast – Stock markets pulled back

• EUR/USD Mid-Session Technical Analysis for March 5, 2019