EURJPY Bullish Wedge Breakout and Waiting for Long Opportunity
It would be correct to look at the reactions of the positions in the 48-week drop in the EURJPY pair :
Last 48 Week :
COT Positions :
-For JPYUSD
Despite the rise, there is a 6.76% decrease in COT positions.
-For EURUSD :
Despite the decline, a 7.21% increase in COT positions.
The Bullish Wedge Breakout here shows that a downtrend of very high standards is over.
Long Signal is possible when the signals return to positive.
I shared it in order not to forget it.
In addition, we are also under the Long signal effect on the weekly chart :
Here, the Risk / Reward Ratio remains a bit low, and a buy signal in Euro / Dollar parity would feel much safer.
However, if a Buy signal comes at lower timeframes in the Oversold region, it can be evaluated.
It must be watched carefully!
Regards.
Last 48 Week :
COT Positions :
-For JPYUSD
Despite the rise, there is a 6.76% decrease in COT positions.
-For EURUSD :
Despite the decline, a 7.21% increase in COT positions.
The Bullish Wedge Breakout here shows that a downtrend of very high standards is over.
Long Signal is possible when the signals return to positive.
I shared it in order not to forget it.
In addition, we are also under the Long signal effect on the weekly chart :
Here, the Risk / Reward Ratio remains a bit low, and a buy signal in Euro / Dollar parity would feel much safer.
However, if a Buy signal comes at lower timeframes in the Oversold region, it can be evaluated.
It must be watched carefully!
Regards.
But , extra distributional buys are not recommended.
It is only a one-position analysis,regards.