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EUR JPY - Bullish updates

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Hello traders and analysts,

Key:
Blue = Monthly
Purple = weekly
Orange = Daily
Grey = 4hour
Pink = 1 hour

Here is our original idea for Euro Japanese Yen back in December 2020. [We are still holding]

Here is the weekly time frame of where the price imbalances are taking us:

At the current daily chart;
We are currently experiencing a great bullish momentum for the Euro, where the Euro is seeing strength against the US Dollar and Yen a like due to the imbalances identified on the weekly time frame - which is shown by our weekly [purple zones].
The weekly ray is included to provide us a strong trendline, as time has moved on - the lows created are higher lows, whereby daily closes are showing us a bullish move. Be wary of this pair as the Yen is a safe haven so expect pullbacks and sell offs to occur on a 4hour and daily timeframe. However, with this bullish movement the creation of a divergence is created between the trendline as oppose to the weekly blue trend.

A bullish scenario:
Pay attention to the consolidation block on the left [in the blue ellipse at 129.00, there is an inefficiency here where price can easily be broken to create a path for the upper imbalance and use this consolidation as a demand zone.

A Bearish scenario:
The Fibonacci can complete the pattern to 129 completing the -0.27 target on a daily level and from here using the consolidation as a selling fractal, the fresh zone at the orange zone can be the profit point for a sell off scenario. Keep in mind the imbalance pr

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Team LVPA MMXXI

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