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EURJPY Market Analysis: Price Action Analysis

Posted on Dec 11, 2023 | by Yuki Tanaka


Price action pattern – symmetrical triangle has formed.

  • Symmetry Confirmation:
    Observe equal highs and lows, forming two converging trendlines with a clear symmetrical shape.
  • Decreasing Volatility:
    Notice diminishing trading ranges as the pattern develops, indicating a potential price breakout.

3.Breakout Direction:
Be prepared for a price breakout. Monitor which trendline (upper or lower) is breached to anticipate the future price movement.

4.Take Profit Target:
Target is ususally measured by the length of the base of the triangle, if market goes up, it can be predicted that it might reach atleast 157.837. if market goes bearish then lower target might be 156.929.

We hope our expert analysis is giving you the needed insight before your trade entry. Do let us know how you like our market analysis and what else would you like us to include and cover.

forex analysis eurjpy

Disclaimer:

The content of this article is purely educational purpose does not give any trading advice to Buy or sell securities. All investing and trading in the securities market involve risk. IntraQuotes disclaims any liability for any damages or losses that may arise from using the information in this article. Traders are solely responsible for their own decisions and actions when choosing and trading with any broker. IntraQuotes disclaims any liability for any damages or losses that may arise from using the information in this content.

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