Today’s scenario EUR/JPY

EUR/JPY 4-hour chart

It fell sharply after yesterday's FOMC.

I’m watching whether it will react to the purple line (1008) on the daily chart and make a temporary rebound.

There is also a stronger purple line (1248) further below waiting, so a continued light retrace followed by a decline is possible.

1-hour chart

As a retrace to the big drop, using Fibonacci and the 38.2% retracement as targets, the TP target is around the purple line (576).

If the price moves upward, I’m considering entries in the direction of the trend.

5-minute chart

As an entry trigger, when the price clearly breaks above the 5-minute range (yellow box), I will enter.

Since it’s the weekend, if it breaks the orange line (168) that is perceived on the 4-hour chart, I might take profit after some time.

If it breaks below the range and declines, there will be no entry.

Popular articles in the series

EUR/USD 1-hour chartA sell signal at 21:00 appeared with the "ROUND UP" signal as shown below.This t

This time, in response to the buyer's request, “Please teach me the concrete steps to enter on a 15-

9/7 to 9/16, the 15-minute chart signal for USD/JPY's "ROUNDUP".The current market is at multi-decad

USD/CHF Daily ChartIn the daily chart, we are approaching the purple line (960) that is watched on t

EUR/USD 4-hour chartContinuation of the article from 10/28.On the daily chart, the uptrend has taken