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EURJPY: A Monthly View

by Olajire Awofisibe

From my monthly analysis of EJ, this is the first time we are seeing EJ at this price level since October 2008.

For those of us that have been in Finspot academy for over 1 year, you should understand the implication of this.

If we see a weekly bodily close inside the grey zone which is the monthly Fair-Value Gap Zone, then we should be ready to see EJ swing to as High as 158 -160 before any major fall.

For now let’s focus on price action of lower time frame from Daily timeframe, so that we don’t get trapped.

No one enters a trade based on monthly analysis, except the institutions and big retail traders.

This is only to give us a global perspective of what’s going on in the market.

Check the monthly view of XAUUSD here.