INDICATORS: RSI, Volatility, Volume, HMM

KEY PRICE LEVELS: 116.008 126.97

Weekly CHART PATTERN : resistance line , W1 Chart.


EUR/JPY is moving in a bullish dynamics. The chart analysis is slightly bearish in consideration of the possible retracement at the support line but the Hidden Markov Models Analysis seems to support the bearish retracement analysis. The RSI momentum indicator and the chart analysis distribution integrated with a Volume and Standard Deviation analysis seems to facilitate an slightly bearish.
The D1 scale indicates that EUR/JPY in a bearish regime and the chart analysis can suggest the retracement at the support line line with objective around the 119.897. This dynamics can lead to a possible bearish pattern. The Hidden Markov Model analysis and the RSI structure are coherent with a bearish analysis.
Forecast evaluation
To give an evaluation of the possible movements of the cross it is utilized the Hidden Markov indicator techniques.
With the combination of the price lines and the stochastic Hidden Markov Processes are indicated two possible forecast value.
  1. The forecast value in the bearish is valued at 121.087.
  2. The forecast with the bullish cycle is valued at 126.98.

Figure 1 describes in a W1 trend with the key price levels.

Figure 2 exhibits the hypothetical path and the forecast value

Considering the slope of the trends, the key level price and the possible retracement it can be evaluated a forecast price level at 121.087.
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