Vladimir Ribakov analyzes EUR/JPY after a 250-300 pip rally, noting RSI overbought conditions and a bearish divergence. He targets the 140-141 zone using Fibonacci expansion, where he expects a slowdown and potential 500-700 pip decline.
Hello traders, how are you? Vladimir here from Traders Academy Club, and this video is my EUR/JPY technical analysis and outlook and review of the beautiful trading opportunity we enjoyed from. And before I go and explain on the charts, all the technical terms and all technical conditions. What do I expect to see on this pair, uh, from the current rally? Uh, if you are new to this channel, I would like to welcome you to our community. Uh, please subscribe to the channel with the subscribe button below this video. And also I invite you to our trading family, Traders Academy Club, where you will enjoy from all our real-time trading ideas our real-time trading education. Every single trading video comes with a detailed, fully explained video covering and explaining all the trading techniques I apply and why, and every single trading opportunity is track recorded in our dedicated trading journal. So join our family with the link below the video in the description or in the pinned message So, uh, if, um, you missed this video, uh, that I published, I think it was 14th of April, uh, you can find it directly in the channel, of course, or you can find it right now on the right top corner of this video. I'll put there the direct link so you can watch and see the full analysis why I was expecting it, the, the breakout. The price was dancing here in this area Why I was expecting this rally, and we are talking about rally close to 300 points above more than 250 points rally already. So it was a really good opportunity, and so far so good. So again, if you missed that, please watch in the channel. And also, if you find these videos helpful, useful. Please show your support back. Hit this like button below the video, drop some feedback in the comment section. 15 seconds of your time, it's a big help to me, my work, and of course to this channel to stay relevant and continue to grow. This is how YouTube algorithm works, so thank you very much in advance. Also feel free to share this video with anyone who you think can benefit watching it. So what do I expect from the euro yen now that we are riding this bullish view? As the original idea published, I was expecting it to reach this swing highs level starting from the higher time frame. We have a beautiful zone here and here of the previous trend and the swing high before the false breakout. So from my point of view, This area is the real area where we should see the price slowing down. And for all those of you who are involved in riding this original bullish idea, I expect that slowly, slowly, slowly, we should see it rounding here. This to complete a bearish divergence. So we will have higher highs on the chart. And lower highs on the indicator. RSI reaches already overbought conditions for the second time of this massive rally. And the very interesting part, if we take a look on the expansion of this first leg, what we can see here, the 61.8% expansion of the first leg and the correction is right here inside the target zone. So I believe that as soon as we get there, we are talking here about the 140, 141 zone. Nothing is or could be super precise in trading because it's a market. Okay. It's a living organism. It's not like the accuracy on the point. It's impossible there. But I definitely see this zone as the zone that the instrument should reach. slowdown. And as I said, very likely we would see here some slowdowns and these divergence coming and building up and completing. And from there I would expect the price to drop down for at least— we can see here at least like 500, 600, 700 pips to the downside. Of course, I wouldn't bet on that blindly saying, oh, now the level is there, let's sell. I will be waiting for a setup. And of course, if there will be setups, then this is the place to follow them in real time. Join us in our trading family, Traders Academy Club. Enjoy from all the trading ideas as we publish them in our dedicated channel, in our trading journal, in our trading chat, and discover yourself. why we are considered to be in the very top of this industry as a trading club. So thank you very much for your time, for your support. I hope you enjoyed this rally. I hope you find this video and the videos I upload to the channel for the community helpful and useful, and I hope to see you with us. Thanks for your time. All the best to you and yours. See you soon with more.
Stop Buying USDJPY: The Critical Resistance You Need To See #forex #tradingstrategy #shorts
