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Eur-jpy

EURJPY flirting with key support ahead of the FOMCJust like the EURUSD is toying with the 1.1700 level, the EURJPY is toying with key support at the 128.00 level. The reason why this is such a MAJOR support level is this is the 13 year re-test of the broken trend line (2008 - present). The pair broke this trend line back in April of this year, and now we are back testing it once again. Also, the EURJPY is at the 50% retracement of the Oct 2020 lows to May 2021 highs. If the EURUSD breaks the 1.1700 level and EURJPY 128.00, there is a big risk that the EUR sees some strong downside pressure in the weeks ahead. All eyes turn to the FOMC tomorrow which could make/break these two pairs.
by ForexAnalytix
EURJPY 4hour Analysis September 19th, 2021EURJPY Bearish Idea Weekly Trend: Bearish Daily Trend: Bearish 4hour Trend: Bearish Trade scenario 1: We’re definitely looking bearish here on EJ and we’re looking to continue with that trend into this week. At the current level we’re waiting for price action to break and retest our 128.900 level so we can enter short on a lower high. Trade scenario 2: For us to consider EJ bullish we first need to see a strong reversal here at 128.900 and ultimately a break above 130.000.
Short
by ForexLeague
EURJPY 4hour Analysis September 12th, 2021EURJPY Bearish Idea Weekly Trend: Bearish Daily Trend: Bearish 4hour Trend: Bearish Trade scenario 1: We’re looking full bearish now! We just saw a perfect lower high right after a break of 130.000. We can find some lower timeframe entries now or in the next few hours if price action pullsback again. Trade scenario 2: For us to consider EJ bullish we ideally need to see a break above 130.000 with a higher low above. We’ll look to enter long after we see bullish confirmations following the higher low.
Short
by ForexLeague
Breakout Identified in EURJPY Signal ID: 77525 Time Issued: Friday, 10 September 2021 07:17:15 GMT Status: open Entry: 130.013 - 130.266 Limit: 130.681 Stop Loss: 129.669 The Breakout Opportunities system has just bought EURJPY at 130.127. The system recommends entering this trade at any price between 130.013 and 130.266. The signal was issued because the EURJPY has broken its 24-hour high while our Speculative Sentiment Index was at -1.496, suggesting that the EURJPY may have further to rise. A stop loss has been set at the 24-hour low of 129.669 and a profit target has been set at the 1 Day ATR level at 130.681. The system will move the stop to the next 24-hour low every time that 24-hour low is higher than the previous 24-hour low. Breakout Opportunities is a breakout strategy that aims to catch the significant moves that typically happen when currencies break through technical support or resistance. 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 interests 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.
Long
by FXCM
4
EURJPY Multi-Time Frame Price Action Analysis, and Backtesting Hi everyone: Let's take a detailed look into EURJPY’s current price action, what my analysis and forecast so far, and do some backtesting on previous prices to give us a positive outlook on the potential bearish continuation price. Starting from the Higher time frame, clear double tops, and ascending channel reversal are very noticeable. Then the price had a bearish reversal impulse phase, pushing the price down. After we begin to see a consolidation, forming a potential expanding correction, which can give us opportunity for a continuation of the bearish move. Following up on my EURJPY analysis I post, I took 2 entries so far: First trade - 1% loss Price wasn't ready to reverse and correctively move sideways/up, tagged me out for a loss. Second Trade - Enter after a rising wedge, “M” style reversal correction. Currenting Running about +2% Original Full analysis/forecast: So 2 TP to look out for are: Now, let's do some backtesting on the EURJPY previous price action. From the Higher Time Frame: Similar price action in the past, can provide us a higher probability trade to enter for the downside. The more backtesting we do, the more confidence we get at identifying the next potential impulse phase where we can capitalize. Any questions, comments, or feedback welcome to let me know :) Thank you Some backtesting video I made in the past: Backtesting & Chartwork on Forex Market Backtesting & Chartwork on Indices Market Backtesting & Chartwork on Crypto Market How & Why I backtest: Prevent Blowing an account by backtesting:
Short
by jojofang0901
52
DXY Pre-London Trend Shift | USD The S&P 500 index recovered on Friday as investors seized the opportunity presented by Wall Street's recent selloff. Equity traders will look for clues about the Fed's next move at this week's Jackson Hole symposium. According to the minutes of the most recent FOMC meeting, a majority of Fed members support reducing the $120 billion per month asset purchase program by the end of the year. Fed Chair Jerome Powell's Friday speech may bolster this possibility, even as recent economic data showed a slowing recovery. In this context, the DXY US Dollar index broke above a 12-month-old "Wedge" pattern. This shows that the market has priced in the possibility of tapering stimulus and possibly rate hikes in the medium term. A stronger US Dollar may weigh on commodity prices and emerging market assets.
TVC:DXYShort
by SteadyTradeAI
EURJPY Facing Bullish Pressure | 1 Sept 2021EURJPY holding above ascending trendline support. Technical indicators calling for further bullish momentum above our entry at 129.701 towards graphical swing high and our take profit at 131.090. 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 interests 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.
Long
by FXCM
3
Bearish Prediction for EUR/JPYHi guys In short term time frame, we can see a upward channel & there will be buy chance after green bullish engulfing candle. TP1: 139.830 TP2: 130.280 SL : 129.200 On the other hand, in higher Time Frame, 1D > Price will hit the SMA 50 and push back into the warm huge of SMA200> down ward. But for this scenario, it will be too early to jump into the Deal!! It should be only in our behind thoughts. good luck I will be appreciate to leave your comments.
by farhaddeheshki
EURJPY 4hour Analysis August 29th, 2021EURJPY Short Idea Weekly Trend: Bearish Daily Trend: Bearish 4hour Trend: Bullish Trade scenario 1: Overall we’re bearish other than this 4hour bullish leg. Good thing to spot here is that this bullish move looks to be filling this large channel. This is good because we can spot a potential short scenario on a confirmed reversal near 130.000 & this upper trendline. Look to enter short after this 4hour bullish trend is broken and we can clearly see a lower high. Trade scenario 2: For us to consider EJ bullish we would need to break above resistance around 130.000. Look to enter long on a confirmed higher low.
Short
by ForexLeague
EURJPY potential bullish momentum | 26th Aug 2021Price has broken the descending trendline resistance for both the H4 and the weekly chart, this signifies a bullish momentum Price is expected to be moving towards the take profit level in line with the 127.2% Fibonacci extension level. Our bullish bias is further supported by the MACD reacting above the zero line, MACD line crossing above the signal line and price is holding above the 50 period MA. 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.
Long
by FXCM
1
EURJPY possible scenarios 🦐EURJPY on the weekly timeframe is testing perfectly a confluence zone. The price is testing the ascending trendline and we will look for a break of the structure to set a nice order. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
by InkyGrip
6
How to trade the next move on EUR/JPY?Good morning traders! Today we will do a multi-timeframe analysis on EUR/JPY, as it is in an interesting zone, and there may be a bullish opportunity in the short term. 🔸As we can see, the price is bouncing off a support zone. The two daily candles that we can see tell us about strong buying pressure. 🔸Although the trend line was broken to the downside, the uptrend is still in force since no rising low of it has been broken yet. 🔸What we will wait to confirm our vision in this direction is the following: This is the 4H chart. 🔸The main idea is to wait for a break in the short-term trend line and then a corrective move, which can be a flag pattern, pennant, triangle, etc. 🔸Then, we will look for a bullish breakout and a move in that direction towards the main trend line of the correction (that is the first bullish target).
Long
by ThinkingAntsOk
2
EURJPY 4hour Analysis August 22nd, 2021EURJPY Short Idea Weekly Trend: Bearish Daily Trend: Bearish 4hour Trend: Bearish Trade scenario 1: Overall very bearish on EJ but we need to see structure form. A good confluence area with our 38.2% & major resistance around 128.900 is where we’re looking for a strong reversal with signals to enter short on. Trade scenario 2: For us to consider EJ bullish we would need to confirm higher lows above 128.900 where we will look to target higher toward major resistance levels.
Short
by ForexLeague