Autochartist recently identified the Falling Wedge on the 4-hour EUR/JPY charts, as you can see from the following trade opportunity alert that I received today for this currency pair. The pair is set to rise further toward the target level 132.085 in the next 21 hours (point B, on the chart below, this level corresponds to the last reversal point of the upper resistance trendline of this Falling Wedge). The stop-level for this forecast is set by Autochartist at 129.35 (the bottom of this chart pattern, point A). This trade alert is aligned with the predominant uptrend visible on the daily charts – which increases the probability the pair will rise to the target level 132.085 in the next 21 hours.
EUR/JPY 1" title="EUR/JPY 1" width="600" height="368">
The following Volatility Analysis chart for EUR/JPY also confirms the above bullish scenario. As you can see here, the entire daily Expected Price Range calculated by Autochartist (from 129.77 to 131.84) stands above the stop-level set in the above trade alert (129.35) – which heightens the probability the pair will not trigger this stop-level in the nearest time and will continue to advance toward target level 132.085 tomorrow.
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EUR/JPY: Set To Rise Further
Published 06/05/2013, 06:26 AM
Updated 03/09/2019, 08:30 AM
EUR/JPY: Set To Rise Further
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