EURJPY Analysis- Bullish - Trade 01

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Seasonality

During the last week of November and the first week of December, the EUR shows bullish momentum, while the JPY exhibits bearish tendencies, making EURJPY overall bullish.

COT Report

According to the COT report, the EUR is close to the 0 level, suggesting a potential reversal. The JPY is at 50%, indicating a neutral stance. This combination points to a possible reversal in EURJPY.

Fundamental Analysis

For EURJPY, the LEI is rising, the endogenous factors are mixed, and the exogenous factors are also increasing. This favors the EUR, indicating a buying opportunity.

Technical Analysis

On the daily chart, EURJPY is at the 0.618 Fibonacci level and a weekly resistance zone. An entry will be considered on the 1-hour chart if it breaks the previous lower high, with the stop-loss set at the previous lower low.

Trade Plan

Entry: 160.169
SL: 159.000
TP: 161.337

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