Subscribe to RSS

EURJPY 2-way Inverted Head and Shoulders confluence

The EURJPY has rallied from a temporary bottom in 131.60 zone and now it is rallying towards POC. This time POC is a neckline of inverted Head and Shoulders pattern type 2- “Inverted Head and Shoulders leaned” .133.30-20 zone is the zone where we should watch for rejections or a breakout to the upside. EURUSD is highly correlated to EURJPY and that is why we need to watch 2 potential scenarios with EURJPY. If you remember my EURUSD analysis from Friday, the pair is currently dropping from POC which also has an impact on EURJPY. As you can see from this excellent Correlation Table (the tool which is a MUST for a serious trader) EURUSD and EURJPY have +94 correlation on last 200 H4 bars, which is considered a highly positive correlation and these pairs are moving roughly in the same direction. Assuming that EURUSD continues to fall , EURJPY will also reject from POC.

Any rejections from POC should target 132.05 initially and any H4 close above POC should target 133.95. POC (H3, neckline) is 2 way directional this time and pay attention to rejection (trend) or breakout (counter trend).

EURJPY

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

Trading Competition more than $1000 Prize – FirewoodFX

Trading Competition more than $1000 Prize – FirewoodFX(0)

Forex live Trading Competition with more than $1000 prize. FirewoodFX presents the live account Forex Trading Competition 2 with cash prize more than $1000! Be the winner by achieving the highest profit! Link: Live Account Forex Trading Competition Link: 20% Bonus Make $100 Deposit or More Available to: All new and existing Ending Date: 31

Social Media Prediction Forex Contest – Grand Capital

Social Media Prediction Forex Contest – Grand Capital(0)

Social Media Prediction Forex Contest will receive $50 on live forex trading account. The Forex contest will end on 29th of March. The winner will be announced on the 3rd of April. Link:  Up to 444% Profit Receive for a single trade Link:  $500 Forex No Deposit Welcome Bonus Link:  Social Media Prediction Contests Link: 

100% Forex Deposit Bonus to your First Deposit – FBS

100% Forex Deposit Bonus to your First Deposit – FBS(0)

$123 Forex No Deposit Bonus for Free all new live Trading Account. $123 Forex No Deposit Bonus will be credited instantly.Take full advantage of the free bonus within 7 days of its active period Link:  $88.8 Lucky No Deposit Required Bonus (for Malaysian traders) Link:  $123 Forex No Deposit Bonus Promotion Link:  100% Forex Deposit

$25 Free Welcome Trading Gift to Start Trading – TRADE

$25 Free Welcome Trading Gift to Start Trading – TRADE(0)

Sign up and receive $25 Free Trading Welcome Gift to Start Forex Trading. $25 Free Forex Welcome Trading Gift by TRADE.com to trade forex live trading without any Deposit and investment to verify live account Link:  $25 Free Welcome Gift to Start Trading Available to: All new trading account Bonus offer: Sign up and receive

Stay Informed About Crucial BREXIT News – UFX Broker

Stay Informed About Crucial BREXIT News – UFX Broker(0)

How will BREXIT affect the value of the GBP? Could the EUR be affected, as well? Other European markets may see volatile market reactions as investors wonder how the UK may profit from its own market, rather than remain part of the EU’s single market. Stay Informed About Crucial BREXIT News with UFX Link:  Stay

Up to 444% Profit Receive for a Single Trade – Grand Capital

Up to 444% Profit Receive for a Single Trade – Grand Capital(0)

Up to 444% Receive Profit with our new Express Options for Grand Capital Ltd Binary Option Broker. Make a correct prediction for 3 assets at the same time Link: Up to 444% Profit Receive for a single trade Link:  $500 Forex No Deposit Welcome Bonus Link:  40% Forex Welcome Deposit Bonus Available to: All new

$6000 First Deposit Bonus Limited Time Offer – XTrade

$6000 First Deposit Bonus Limited Time Offer – XTrade(0)

Up to $6000 First Deposit Bonus Limited Time Offer (T&C applied) on all Deposits for all Customers. Become an XTrade customer, and get 60% Forex Special bonuses (T&C applied) on all deposits made during your first 7 days!! Link:  $50 Free Cash Welcome Bonus Promotion  (T&C applied) Link:  $30 Free Account Verification Bonus (T&C applied) Link: 

50% Deposit Bonus and $50 No Deposit Bonus – FortFs

50% Deposit Bonus and $50 No Deposit Bonus – FortFs(0)

$50 Forex No Deposit Bonus Promo Action to all eligible clients. Every client who passed the verification process in their trader’s room can get the $50 No Deposit Welcome Bonus Link:  $50 Forex No Deposit Welcome Bonus Link:  Up to 50% Bonus of Every Deposit Link:  15% Support Margin Bonus Promo Available to: New and

15% Forex Welcome Deposit Bonus Up to $1000 – XM

15% Forex Welcome Deposit Bonus Up to $1000 – XM(0)

15% Forex Welcome Deposit Bonus Up to $1000 and $30 Forex No Deposit Bonus Welcome Bonus brings Real Account clients the best rewards available. Entering the markets and trading with XM enables you to earn from your trades and build your own bonus up to a maximum of $1,000. Link:  $30 Forex No Deposit Bonus

Free $200 Earn with Binary No Deposit Bonus – Ayrex

Free $200 Earn with Binary No Deposit Bonus – Ayrex(0)

Earn $200 Free with Binary Options No Deposit Bonus to all new activated trading account. Ayrex presents its very first Binary Options No Deposit Bonus for new traders. Sign up to get FREE $30 and turn them into a fully withdrawable $200! Link: $200 Earn with No Deposit Bonus Link:  $100 Free Win in Just One

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories