EUR/JPY GANN Analysis

This week’s swings in sentiment were limited to positive adjustments for JPY with a build in bullish positioning and narrowing in bearish positions. JPY sentiment has now improved for 7 consecutive weeks with an impressive turn from December, delivering a cumulative $3.7bn narrowing in the net short to $5.6bn. Gross shorts have nearly halved. Positions in EUR and GBP were little changed w/w. Bearish GBP sentiment has been broadly stable around $5bn for much of 2017. The EUR short has narrowed modestly, however it remains the largest at $6.2bn.

Weekly and daily chart show bearish trend and after north pole correction price is moving to its normal trend—Bearish.

Also Elliot study show that price action is going to start Elliot wave 5 with bearish impulsive move. Giving strong biased for currency to have bearish rally over coming next few days.

Price action study also revealed that triangle breakout validated forming upward correction trend which is already rejected showing price entering in bearish zone.

GANN square of 90 study revealed that price have correction up to 270 degree and rejected and price have now entered in bearish Zone making EUR/JPY prognosis as bearish.

Long term Gann Square of nine study shown price remain in strong bearish zone rejected GANN 810 (270 x 3) Degree natural level and had correction of 270 degree. 270 Degree rejection is very strong point of reversal in Gann levels. After that it start again its bearish impulsive direction. So far have 90 Degree bearish move and hope to carry on.

Medium scale Gann study reveal that price have 270 Degree correction and rejected to adopt its bearish impulsive Move.

Fine Level Gann Study revealed that after swing , which is validated through swing failure , price so far break out 135 Degree level. And hope to keep its momentum downward during Next few days.

Support  : Gann Degree (Level) 180, 225, 270, 315,360