EURJPY Breakout and Potential retraceHey Traders, EURJPY was trading in an uptrend, but now JPY seems to be recovering and EURJPY successfully managed to breakout the trend. i will be watching a potential retrace of the trend line around 144.3 supply and demand zone. once the rejection is confirmed 142.5 will be the next solid support and resistance zone EURJPY will be facing.
Eur-jpy
Selling EURJPY at swing highs.EURJPY - Intraday - We look to Sell at 145.35 (stop at 145.70)
There is no sign that this bullish momentum is faltering but the pair has stalled close to a previous swing high of 145.57.
A Doji style candle has been posted from the high.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Preferred trade is to sell into rallies.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Our profit targets will be 144.30 and 143.00
Resistance: 146.05 / 148.40 / 151.40
Support: 144.20 / 142.80 / 141.60
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EURJPY Approaching Support for ReboundThe EURJPY currency pair has reached the end of its upward trend, as shown in the chart. It has faced resistance at several levels and has been unable to create new highs. Momentum indicators also show signs of divergence. However, the price is now approaching an important support area where the upward trend line meets the 50-period moving average on the hourly timeframe and the 61.8% Fibonacci level.
I expect the price to respond to these levels and go up to 145 before falling again to break the previous support line and target 143.
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EURJPYEURJPY Long-Term Perspective
The Last EURJPY analysis expected the Bullrun continuation above the trend line and then rebound from it for a bearish move to the downside around the 135.000 psychological level
Obviously, it is not going to reach that in a week or 2 and there could be a lot of minor rejections and corrections along the way to the main target, this is just a Long-Term Perspective on EURJPY
EurJpy MP Trading Bias: Open
Market Cycle: n/a
I'm going to hold on to the short bias from yesterday for now, but HTF is still bullish,,
Accumulation is evident just above the weekly level, this could also get rejected and we move bullish from here, so I want a strong break out and retest before shorting..
EURJPY gains to be capped by yesterdays high?EURJPY - Intraday - We look to Sell at 145.40 (stop at 146.10)
Buying pressure from 143.87 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Previous resistance located at 145.47.
Preferred trade is to sell into rallies.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Our profit targets will be 143.40 and 142.90
Resistance: 146.05 / 148.40 / 151.40
Support: 144.20 / 142.90 / 141.60
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EURJPY Potential for Bullish Rise to previous swing highLooking at the H4 chart, my overall bias for EURJPY is bullish with the current price being above the Ichimoku cloud ,
Looking for a buy entry at 144.165, where the recent high is to ride the bullish momentum. Stop loss will be at 142.730, where the overlap support and 38.2% Fibonacci line is. Take profit will be at 146.730, where the previous swing high is.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
EURJPY Potential for Bullish Rise | 27th February 2023Looking at the H4 chart, my overall bias for EURJPY is bullish with the current price being above the Ichimoku cloud ,
Looking for a buy entry at 144.165, where the recent high is to ride the bullish momentum. Stop loss will be at 142.730, where the overlap support and 38.2% Fibonacci line is. Take profit will be at 146.730, where the previous swing high is.
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EurJpy - Manipulation Point Trading Bias: Open
Market Cycle: n/a
Similar to the PA on GJ, my instinct suggests we are going long, even if it's for a short time only.
Notice the wick rejection from the 4h FVG, we certainly now have buyers in the market..
Potential backside trade over 142.900, but be mind-full of the round no KL of 143.00
EURJPY Potential for Bullish Rise to previous swing highLooking at the H4 chart, my overall bias for EURJPY is bullish with the current price being above the Ichimoku cloud ,
Looking for a buy entry at 142.730, where the overlap support and 38.2% Fibonacci line is. Stop loss will be at 139.556, where the previous swing low is. Take profit will be at 146.730, where the previous swing high is.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
EURJPY Potential for Bullish Rise | 24th February 2023Looking at the H4 chart, my overall bias for EURJPY is bullish with the current price being above the Ichimoku cloud ,
Looking for a buy entry at 142.730, where the overlap support and 38.2% Fibonacci line is. Stop loss will be at 139.556, where the previous swing low is. Take profit will be at 146.730, where the previous swing high is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Joe Gun2Head Trade - Short term top on EURJPY?Trade Idea: Selling EURJPY
Reasoning: Short term top on EURJPY? Wave count, top pattern, VPOC.
Entry Level: 143.03
Take Profit Level: 142.00
Stop Loss: 143.32
Risk/Reward: 4.24:1
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EURJPYEURJPY has been examined in different dimensions:
1- Strong supply and demand levels that I identify with my own indicator and system.
2- The structure of recently formed waves
3- Current market momentum
4- The structure of classical and price patterns
In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis.
In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram.
⚠️ Disclaimer:
This is a personal opinion and you are responsible for any trading decisions.
EURJPY a buy opportunity 🦐EUR/JPY after breaking above the daily resistance and reaching the 143.500 resistance level has tested the 0.5 Fibonacci level and retested the resistance level, a potential strategy would be to wait for a break above the resistance level to confirm the bullish momentum.
Once the price breaks above the resistance level, the trader could set a long order with a stop loss according to the MTB strategy.
The target profit level could be set at the next major resistance level or a round number level such as 145.00. Alternatively, the trader could use a trailing stop to capture as much profit as possible as the price continues to move higher.
It is important to note that technical analysis is not a guaranteed predictor of future price movements, and traders should always use proper risk management strategies to protect their capital.
EURJPY Strong buy signal within a 1 year Channel UpThe EURJPY pair is on a three day bullish streak above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). The pattern for almost a year is a Channel Up, which has a very clear recurring bullish formation.
After every 1-month (approximately) Channel Down (red pattern) and a U-shaped reversal on the 1D RSI, the price rises. We have so far 3 such occurrences, two rose by +7.5% and one by +5.25%. Based on this, since the price hit in January twice the bottom (Higher Lows trend-line) of the Channel Up and the RSI has reversed, we are long. We pursue the moderate target of +5.25% which would be 146.900. If you wish to go all the way for the +7.50%, target 150.000, which will hit also the top (Higher Highs trend-line) of the Channel Up.
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EURJPY can break above? 🦐The double bottom pattern that formed on the EURJPY Daily chart after the recent low suggests that there was a period of selling pressure that eventually led to a reversal. The impulse to the upside that followed and tested the daily resistance level multiple times shows that buyers are in control and are attempting to break through this level.
Currently, the market is in an accumulation phase between the resistance and the 50% Fibonacci level. This suggests that buyers and sellers are assessing their positions and waiting for a clear direction before committing to a trend.
As a trader, you could look for a break above the daily resistance level as a potential long entry signalaccording to the MTB Strategy Rules. This could indicate that buyers have gained enough momentum to push through the resistance and continue the uptrend.