Vladimir Ribakov analyzes EUR/JPY on a weekly and 4-hour chart, identifying a two-wave corrective push upside with Fibonacci expansion room. MACD is rising in positive territory with no divergences, suggesting bullish continuation after pullbacks.
Hey guys, how are you? Vladimir here from Traders Academy Club. This video is a day trading idea and today we are on 22 July 2020. I hope you are safe and well and today on the menu is the EUR/JPY. But before I dig deeper with the idea and explain what I see on the chart. If you are new to the channel, first of all, welcome to our fantastic community, and I would like to invite you to subscribe to the channel. Just follow the subscribe button below this video, and I would like to invite you to join our trading club, the Traders Academy Club, as well to our free Telegram channel where you can enjoy our daily posts completely free. So what do we have on the euro yen and why I see that interesting? The way I see, we are currently developing, uh, 2 waves push to the upside, which is a corrective cycle to the weekly trend. Let me just put the fibo here. And this one has a good room, uh, right here on the Fibonacci expansion of the 2 waves. First wave to the upside was in 3 pushes. This looks like yet to complete. Until the divergence completes, I believe there is more to go. Also, quick observation on the MACD: the MA is currently pushing to the upside on the positive zone. On the 4-hour, it all happens in the same way. Currently, no divergences in play, and the way it looks, as I showed before, we are pushing here in the waves to the upside. Also, the 1-hour chart doesn't have much besides this extreme conditions which likely to bring some corrections before the continuation upside. So my point, my view here on the EURJPY is I expect bullish continuation to the upside after pullbacks. Let me know what do you think about the euro yen. Are you bullish? Are you bearish? And where do you think this pair can reach? If you find this idea and generally such videos interesting and helpful, please show your support back. Hit the like button below this video. Your support and your help is very much appreciated. And if you are involved in the euro yen once again, please share your expectations. What would you expect from the euro yen to happen? And drop it on the comment section below the video. So that would be all for today. This is the day trading idea for 22nd of July 2020. Stay safe, be well, and I'll see you around with more videos and more ideas.
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