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Annual forecast of EURJPY (2022)

EURJPYJPY Important Zone

Supply zone: 134.150, 140.650, 149.010
Demand zone: 113.920, 116.910, 127.630

EURJPY long-term plan: bullish

Especially since 2013, the market has seen a bearish impact every year. Whenever EURJPY makes a bullish move, the move is prematurely terminated and always plummets to a demand level of 113.920. This happened between 2013 and 2016, and between 2017 and 2020. The result is a triangular tapered market structure. By June 2020, prices had reached demand levels of 116.910 and began to rise again, but this time they finally broke the triangular pattern on New Year’s Day 2021.

A flagpole was formed when the price soared from 120.920 and suddenly stopped at 134.150. After that, EURJPY started cranking through the downward channel. This continued until 2022. Market forecasts are upward liquidity flows. The ascending signal of the MA cross is still very useful. On the other hand, the moving average convergence divergence index shows a bearish bar. This is due to the downturn in the market. The signal line stays above the zero level.

Annual forecast of EURJPY (2022)EURJPY Medium-Term Plan: Bearish

At the beginning of 2022, prices are set to fall after reaching the range channel cap. MA crosses are turned downwards to show the undulating nature of the current market. The same is true for the MACD indicator.
The annual forecast is from the end of 2022 to the beginning of 2023, when the bullish flag pattern is expected to push the market towards 140.650.

Source: https://learn2.trade

Annual forecast of EURJPY (2022)

Source link Annual forecast of EURJPY (2022)

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