EURJPY bottomed on the 1D MA50. +5.40% upside potential.

anteayer

The EURJPY pair has been trading within a Channel Up pattern since the September 16 Low. Yesterday it made a Higher Low on the 1D MA50 (blue trend-line) and rebounded. This is identical to the post December 07 2023 Channel Up, which was also supported by its 1D MA50 until its very top (July 11 2024).

The 1D RSI sequences between the two fractals are also similar and even more importantly the Channel Up patterns appear to have a high degree of symmetry. So far the two Bullish Legs have risen by +5.40%.

As a result, we are expecting another +5.40% from yesterday's bottom, so our Target is just below it at 170.000.

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