# EURJPY Uptrend Confirmation (Mar 7, 2016) Source: https://www.tradersway.com/resources/market-info/eurjpy-uptrend-confirmation-mar-7-2016/ Language: en Updated: 2016-03-07 Description: Explore EURJPY Uptrend Confirmation (Mar 7, 2016). EURJPY recently. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. EURJPY recently formed a reversal pattern on its 1-hour time frame, signaling that an uptrend might take place. Price just broke above the double bottom neckline at 125.00, confirming that further gains are in the cards. The 100 SMA is crossing above the longer-term 200 SMA,confirming that a reversal from the downtrend is beginning. However, stochastic is heading down from the overbought zone, indicating that selling pressure is still present. RSI is also on the move down so price might follow suit. A pullback to the broken neckline around the 124.50-125.00 is still possible before price resumes its climb. A break below this area, though, could indicate that sellers are gaining more energy to push price down to the previous lows at 122.00. A return in bullish pressure could lead to a climb of around 300 pips, which is the same height as the chart pattern. Event risks for this setup include the ECB interest rate statement later on in the week, as an additional round of quantitative easing is expected. However, this scenario has already been priced in for a long while back, as ECB head Draghi has pointed out that they might need to ramp up stimulus. ![EURJPY Uptrend Confirmation (Mar 7, 2016)] There are no major reports due from the euro zone and Japan for the rest of the week, leaving traders to position ahead of the ECB statement. A lower than expected level of easing could mean more gains for the euro, similar to the rally seen in their earlier rate decision. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/eurjpy-uptrend-confirmation-mar-7-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/eurjpy-uptrend-confirmation-mar-7-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/eurjpy-uptrend-confirmation-mar-7-2016/", "headline": "EURJPY Uptrend Confirmation (Mar 7, 2016)", "inLanguage": "en", "datePublished": "2016-03-07T10:26:05+00:00", "dateModified": "2016-03-07T10:26:05+00:00", "articleSection": "Market Info", "description": "Explore EURJPY Uptrend Confirmation (Mar 7, 2016). EURJPY recently. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/eurjpy-uptrend-confirmation-mar-7-2016/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "EURJPY Uptrend Confirmation (Mar 7, 2016)", "item": "https://www.tradersway.com/resources/market-info/eurjpy-uptrend-confirmation-mar-7-2016/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```