Eurjpy!
EURJPY counter trend short move is expected**Monthly Chart**
EURJPY monthly chart is looking bullish, we have already broken July 2008 high. I do expect a huge reaction from BOJ around this level. Last month candle closed bullish after spiking around 170 level. This month candle which is already active is moving towards breaking the high of last month and reacting from July 2008.
**Weekly Chart**
last week candle closed as bullish. There is still no sign for a price reversal on weekly as the weekly time frame indicating a clear bullish trend. However, there might be a huge reaction around July 2008 historical high level.
**Daily Chart**
If the price moves slowly to the upside in a corrective wave with a price action pattern formation, it will provide a sell signal to move lower. I am expecting a reaction around this area which might provide a sell setup to go short at least for 500 pips.
EUR/JPY SENDS CLEAR BULLISH SIGNALS|LONG
Hello,Friends!
EUR/JPY pair is trading in a local uptrend which know by looking at the previous 1W candle which is green. On the 2H timeframe the pair is going down. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 168.879 area.
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Bullish rise?EUR/JPY has just reacted off the pivot and could potentially rise to the pullback resistance.
Pivot: 168.31
1st Support: 167.37
1st Resistance: 170.03
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Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EURJPY Potential DownsidesHey Traders, in today's trading session we are monitoring EURJPY for a selling opportunity around 169.500 zone, EURJPY is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 169.500 support and resistance area.
Trade safe, Joe.
EURJPY ANALYSIS [W/B 10/06] Long term Swing Short EJ has been heavily, bearish within - not just - the last few hours, but days. Sells have most definitely taken over and have resulted in continuous breaks of structures downwards.
The last BOS on the far right - once it happens (Seeing as lows just keep being attacked, with liquidity continuously being left behind) - will confirm the overall sell into demand that was once created at the beginning of May.
N.B. It would be worth having a look at other JPY pairs too for this trend.
Narrative Analysis and Market Insights | EU & EJ - 09 June, 2024Join me as I dive into my daily analysis routine, conducted every evening before the market opens. I'll show you how I decide whether to trade or stay out of the market the following day. My strategy revolves around trading just two currency pairs, and I'm excited to share my insights with you. Stay tuned for regular updates and trading tips.
EURJPY - Look for Continuation Long (SWING) 1:2!EURJPY is somewhat correlated with GBPJPY, which currently shows no signs of going bearish.
After solidly breaking the monthly support and executing a nice pullback, EURJPY reacted firmly on the support with a few strong hourly candlesticks.
Like GBPJPY, we need to wait for it to break the current resistance before going long. Look for a strong bullish candlestick and a firm correction before entering.
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
#EURJPY:1000+ Pips Swing Selling Chance! Comment down your viewsDear Traders,
JPY has been bullish since this week, and will likely to remain bullish as we approach NFP. If DXY turns out to be bearish it will likely boost JPY to continue the bullish momentum. In short time, we expect price to drop further and make smaller correction towards our entry zone. Once it does that, we can then enter with accurate risk management.
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EURJPY ANALYSIS (RECENT WEEKS + FUTURE)A lot of the JPY pairs have been recently moving similarly (not surprising due to their obvious relationship). I’ve been keeping an eye on UJ, GJ and my personal favourite EJ - for me to notice their recent similarities.
Anyway, price successfully reached the supply zone and instantly began to dump, successfully shown by the initial displacement. This signalled weakening in the price and that price was ready to go to demand. This idea was further strengthened by the initial sweep and immediate BOS on the 4H chart to the downside giving me a potential entry point (on the 4H which I’m not a big fan of) and a new POI to work from.
POI formed - and another nice BOS- with an order block. However this wasn’t clear enough for me to confidently trade from.
Price broke ONCE more - fully confirming the bearish bias and it gave me two points to decide to work from either off of the 15min or the 1h OB’s created.
I’ll be seeking to TP at 168.485 and then 167.665.
EURJPY: Inside day, first green day, three days cycleHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range
Tuesday DAY 2 Initial Balance
Wednesday DAY 3 (reset DAY 1) Mid Point Week
Thursday DAY 2 ✅ day 3 cycle
Friday DAY 3 Closing Range
2. SIGNAL DAY
First Red Day
First Green Day ✅
3 Days Long Breakout
3 Days Short Breakout
Inside Day ✅
3. WEEKLY TEMPLATE
Pump&Dump
Dump&Pump ✅
Frontside
Backside ✅
4. THESIS:
Long: primary, potentially weekly dump and pump scenario back to the HOW. Market came back into the opening range, currently consolidating inside the range.
Short: secondary, yesterday the market performed a pump phase, closing as in inside day, which it can typically give two type of trade, reversal for this specific scenario. Second hour NY will give more clue regarding the further movement.
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
EURJPY H4 | Bearish Drop Based on the H4 chart analysis, we can see that the price is currently at our sell entry at 169.89, an overlap resistance close to the 78.6% Fibonacci retracement.
Our take profit will be at 167.40, an overlap support.
The stop loss will be placed at 171.58, which is a swing-high resistance.
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EUR/JPY looks ready to ripThe ECB are expected to cut their benchmark rate for the first time in 8 years in a few hours. Yet as it has been so well telegraphed and they seem unlikely to provide promise of further cuts just yet, we suspect upside potential for euro pairs once the dust has settled. And with Wall Street at new highs and appetite for risk on the rise, EUR/JPY looks good for long setups.
A bullish inside day formed on Wednesday, and whilst it met resistance at the 2008 high it has since found support at the 20-day EMA. The daily chart shows prices holding above the daily pivot point, and a bullish engulfing candle has formed with a bullish RSI divergence. A bullish flag also appears to be forming.
The bias remains bullish above 169, although the 20-day EMA or cycle lows can be used to aid with risk management if momentum turns higher. A break above 170 brings the daily R2 / 61.8% projection into focus, and the flag suggests a target just above the 170.72 highs.
Heading into 50% Fibonacci resistance?EUR/JPY is rising towards the pivot point which has been identified as an overlap resistance and could reverse to the 1st support.
Pivot: 169.45
1st Support: 167.39
1st Resistance: 170.82
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EUR/JPY Technical Analysis: Identifying Bearish OpportunitiesThe EUR/JPY presents a compelling price action scenario with notable opportunities. Recently, the pair encountered strong absorption at the 171.500 level, evidenced by a significant spike indicating substantial seller presence in this price area. This absorption led to a pronounced bearish impulse driving the price down to the 164.000 level. Since then, the price has been on a recovery trajectory, creating an area of imbalance that the market may seek to revisit for potential retests of previous price levels.
In addition to these observations, technical analysis reveals a divergence on the RSI, which suggests a potential double top formation. This divergence indicates weakening bullish momentum, strengthening the case for a bearish outlook. Given these conditions, we have positioned our stop loss at 171.000 to protect against any attempts by the price to retest higher absorption levels above the current range.
This strategic setup highlights a promising bearish opportunity, supported by the significant absorption at the 171.500 level, the initial bearish impulse around 164.000, and the divergence observed on the RSI. Traders should closely monitor these technical indicators and price levels to capitalize on potential market movements. This analysis underscores the importance of vigilance in managing positions and adjusting strategies as the market evolves.
EUR/JPY SENDS CLEAR BEARISH SIGNALS|SHORT
Hello,Friends!
We are going short on the EUR/JPY with the target of 169.809 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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