EURJPY Sell on the next rebound.The EURJPY pair is on its 1D MA50 (blue trend-line), trading within a Channel Up since the June 28 High. It appears that smaller Megaphones within the Channel are the patterns that tend to lead the pair to its new Higher Low, that technically reaches as low as the 0.618 Fibonacci retracement level. That is our short target (156.500) but sell as high on the next rebound as possible. You may also pay attention to the 1D RSI, which rebounds on its 39.50 and is where the price has rebounded aggressively every time it hit it, inside 2023.
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Eur-jpy
EURJPY to find support at previous resistance?EURJPY - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
A lower correction is expected.
Short term bias has turned positive.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
We look to Buy at 158.95 (stop at 158.45)
Our profit targets will be 160.15 and 160.65
Resistance: 161.25 / 162.00 / 163.10
Support: 158.60 / 157.70 / 157.05
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
EURJPY: Price gone higher than expected for a better entry.Price moved a lot higher to fill the overnight gap down.
My idea yesterday became invalid but this gives me a better entry:
Gap down suggests general direction and now the gap has been filled, supported by a pinbar on the 1hr I'm getting in short with a first TP at 156 (ultimately I think 154), but I think this could be the start of the reversal.
EURJPY Buy signal inside a strong Channel Up.EURJPY is trading inside a Channel Up starting from the beggining of the year.
The MA100 (1d) gave the necessary Support last week at the bottom of the Channel UP.
Trading Plan:
1. Buy once the price closes over the Falling Resistance.
Targets:
1. 166.700 (+8.00% rise as per the bullish leg prior).
Tips:
1. The RSI (1d) hit Support (1) and rebounded. This support level has priced the lows of July 27th, March 17th and January 17th.
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Notes:
Past trading plan:
EURJPY 7month Channel Up looking for a correction.EURJPY is trading inside a Channel Up for the past 7 months, consolidating currently around the 1day MA50.
The Channel Down on the 1day RSI hints towards a possible price pull back, the same kind that took place in November-December and June-July 2022.
Both corrections touched the 1day MA200.
Sell and target 152.000 (projected contact with the 1day MA200).
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EURJPY Potential UpsidesHey Traders, in tomorrow’s trading session we are monitoring EURJPY for a buying opportunity around 157.500 zone, EURJPY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 157.500 support and resistance area.
Trade safe, Joe.
Eur/Jpy Selling on the back of EUR weaknessQ1-2023. High energy costs and elevated inflation are increasingly weighing on Eurozone
real household disposable incomes, even if overall inflation pressures are not as broad-based as in some other major economies. In addition, disruptions to energy imports
from Russia (oil and natural gas, both planned and unplanned) have the potential to
further elevate energy prices or weigh more directly on production. To be sure, the
starting point for Eurozone finances is quite sound, with nominal income growth largely
keeping pace with inflation and the household saving rate still high by historical
standards. But, as those supportive household finances begin to wane over time, we
believe consumer spending will increasingly come under pressure. In addition,
manufacturing activity could be impacted more directly by energy disruptions, and ta;ls
pf U.S. recession could also weigh on the Eurozone economy.
This could also force buyers into safe havens such as JPY, hence why we chose EURJPY to
short.
Sell Now: 138.990
TP: 137.260
Sl: 140.053 (110pips)
EURJPY possible bouncePrice has been consolidating but has now formed structure within the range that could possibly push price outside the range to the upside to possibly retest a higher time frame supply before further expanding down since higher time frame bias is bearish at least for the short term.
EURJPY to move higher from current prices?EURJPY - 24h expiry
Buying pressure from 157.37 resulted in prices rejecting the dip.
A Doji style candle has been posted from the base.
Indecisive price action has resulted in sideways congestion on the intraday chart.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Further upside is expected although we prefer to buy into dips close to the 157.77 level.
We look to Buy at 157.77 (stop at 157.27)
Our profit targets will be 158.97 and 159.27
Resistance: 158.05 / 159.85 / 160.85
Support: 156.60 / 155.50 / 154.70
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
EURJPY Low risk buy here. Keep an eye on the RSI.The EURJPY pair has been trading within a Channel Up pattern since March. The price is currently on the 1D MA50 (blue trend-line) at the bottom (Higher Lows trend-line) of the Channel Up. As long as the pattern holds (bottom intact, closing 1D candles above it), we have the opportunity for a low risk buy to target the Internal Higher Highs trend-line at 160.450.
If we close a 1D candle below the pattern, then buy again only when the 1D RSI touches the 39.50 Support. This level has marked the bottoms of July 27 and March 17.
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EURJPY posted a bullish hammer bottom.EURJPY - 24h expiry
Posted a Bullish Hammer Bottom on the Daily chart.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
The hourly chart technicals suggests further downside before the uptrend returns.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Further upside is expected although we prefer to buy into dips close to the 157.45 level.
- We look to Buy at 157.45 (stop at 156.93)
Our profit targets will be 158.75 and 159.05
Resistance: 158.05 / 159.85 / 160.80
Support: 156.60 / 155.50 / 154.70
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
EURJPYI was bearish on eurjpy for the last week due to the weekly and daily charts, however, when I look at the 2w timeframe there is a completely different bias because on the last third candle price successfully engulfed its previous candle high and it seems like it is picking up orders especially on the psychological level at 157 twice for the next move to the highs.
EURJPY in a trend of higher lows.EURJPY - Intraday
Indecisive price action has resulted in sideways congestion on the intraday chart.
A Doji style candle has been posted from the base.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
The hourly chart technicals suggests further downside before the uptrend returns.
Further upside is expected although we prefer to buy into dips close to the 157.40 level.
We look to Buy at 157.40 (stop at 156.90)
Our profit targets will be 158.60 and 158.90
Resistance: 158.05 / 159.85 / 160.80
Support: 156.60 / 155.50 / 154.70
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
EURJPY Potential UpsidesHey Traders, in the coming week we are monitoring EURJPY for a buying opportunity around 157.700 zone, EURJPY was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 157.700 support and and resistance zone.
Trade safe, Joe.
EURJPY Short-term buy within the Channel Up.The EURJPY pair is trading within a Channel Up pattern since the mid-March low with the 1D MA50 (blue trend-line) as the main Support. The 1D MACD made a Bullish Cross and every previous such formation within this pattern, has been a confirmed buy entry.
The first Higher High was a +9% rise, the second a +8% and assuming its a progression, we expect the current to complete at least a +7% rise. As a result, we are bullish, targeting 162.000.
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Long EURJPYLast week's weekly Heikin Ashi candle was green. I suspect that it will close green again. Because of this I decided to enter long just as the new day began (8/8). I plan to hold this trade all week until just before market close on Friday.
Stop loss just below the local low on the daily time frame.