Eurjpy!
EUR/JPY H4 | Falling to pullback supportEUR/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 161.964 which is a pullback support that aligns with the 78.6% Fibonacci projection level.
Stop loss is at 161.32 which is a level that lies underneath an overlap support that aligns with a confluence of Fibonacci levels i.e. the 38.2% retracement and the 100.0% projection.
Take profit is at 162.920 which is a pullback resistance.
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EUR/JPY H4 | Falling to overlap supportEUR/JPY is falling towards an overlap support and could potentially bounce off this level to rise towards our take-profit target.
Entry: 161.910
Why we like it:
There is an overlap support level
Stop Loss: 161.405
Why we like it:
There is an overlap support that aligns with the 38.2% Fibonacci retracement level
Take Profit: 163.440
Why we like it:
There is a swing-high resistance level
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, Trading range is more likely.EURJPY / 1D
Hello traders, welcome back to another market breakdown.
EURJPY has been trading around a KEY Level on the yearly time frame. I expect the price to more likely form a trading range. Check out the trigger plan for more confirmation.
Trade safely,
Trader Leo
EUR/JPY BEARISH BIAS RIGHT NOW| SHORT
Hello,Friends!
EUR/JPY pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 8H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 161.811 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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EURJPY : Short Trade , 1hHello traders, we want to check the EURJPY chart. The price is moving in a descending channel and has pulled back to the indicated key level. We expect this level to play the role of a resistance level and the downward trend of the price will be maintained. If the price falls, our target will be 162,000. Good luck.
EURJPY to form a lower high?EURJPY - Intraday
Buying pressure from 161.68 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Short term bias has turned negative.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
We look to Sell at 162.95 (stop at 163.35)
Our profit targets will be 161.95 and 161.75
Resistance: 164.30 / 167.35 / 168.95
Support: 161.90 / 160.00 / 158.70
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EUR-JPY Long From Support! Buy!
Hello,Traders!
EUR-JPY is trading in an
Uptrend and the pair made
A bearish correction and will
Soon hit a horizontal support
Of 161.588 from where we
Will be expecting a bullish rebound
Because we are bullish biased on the pair
Buy!
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Check out other forecasts below too!
EURJPY SELL BIASWeekly: Bullish, Retested unmitigated ob 163.150-750, Week closed above recent high, price is 300 pips above last major support and 120 pips from next major resistance.
Daily: Bullish, Rejection from major resistance the day before market close, Price is on a 100 pip bullish run breaking major zone without a valid pullback.
4hr: Consolidation, Double top pattern near major resistance, Strong
bullish trendline, Support that haven't been tested at 162.375.
1hr: Consolidation, In a zone formed after rejection of major resistance, Bearish choch, Recent rejection from bottom of consolidation zone, Unmitigated ob at 163.100 at the top of the zone, Unmitigated ob at 162.100, Rejection from .618 fib retracement.
15m: Consolidation, Currently under 50 ema, Bullish choch formed before market close, Rejection of minor resistance at 162.875, Bearish flag pattern Double top pattern, Unmitigated ob at 163.100, Unmitigated ob at 162.500.
I believe the bull run is about to reverse to the downside for a pullback to the last daily support at 161.925. i would like to see price exit and break and retest the last major 4hr support before entering a trade to and we can start aiming for the liquidity made from a break of the 4hr trendline.
Sell EURJPY Triangle BreakoutThe EUR/JPY pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a triangle pattern.
Key Points:
Triangle Breakout: The price has been trading within a triangle pattern, characterized by converging trendlines. This pattern can be interpreted as a continuation of the prior trend or a potential reversal depending on the breakout direction. The recent break below the lower trendline signifies a potential confirmation of a downtrend continuation.
Sell Entry: Consider entering a short position around the current price of 163.08, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: Initial bearish targets lie at the following levels 162.33 and 161.98
Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the triangle, ideally around 163.40. This helps limit potential losses if the price reverses and breaks back upwards.
Thank you
EURJPY H4 | Approaching pullback supportEUR/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 162.649 which is a pullback support.
Stop loss is at 162.200 which is a level that lies underneath a pullback support and the 23.6% Fibonacci retracement level.
Take profit is at 163.720 which is a pullback resistance.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
EJ 4H Sell Idea 2/25/24Price is at the highs of Nov '23.
Double tops are forming on the 4H and below.
Looking for the M to complete on the 4H at a minimum before returning to bullish price movement.
Price could very well continue bullish from where it currently is, but we shall have to wait and see.
Technical Analysis : EURJPY shorts 162.705 into lows at 163.537Resistance
163.209
163.180
Fib .50 level
162.946
Support
162.705
162.688
Profit Target
163.537
EURJPY experienced a strong rejection from the Fibonacci level of 162.946 and then broke below the previous day's low of 162.688. An entry has been initiated with the expectation that the price will continue to move towards the profit target of 163.537.
EUR/JPY SELLING at 162.76EUR/JPY has been BULLISH since July of 2023 so its abrave man (or a fool) who calls the top on this particular pair.
That said the current wave of BUYING started earlier this month and there are clear signs that EUR/JPY BULLS are taking a breather.
The SELL signal line of the Andean Oscillator is rising and the green buy line is crossing south over the signal line indicating an increasing BEARISH influence.
MACD is mirroring this and also crossing south and the RSI on H1 which has been overbought for sometime is also heading south.
So all the technical indicators would suggest we're headed south from these levels.
However.
The 25 50 100 and 200 EMA's are all below price so EUR/JPY BEARS will have their work cut out to drive the price lower.
This trade will have to be carefully managed and exited if there are signs of support coming in.
There's no more scheduled news now until next week so once the markets have digested the green numbers of the Unemployment Claims and Flash Manufacturing PMI then whatever direction we 're going in should last for some time.
Double Top w/ Caution!! - EJHere I have EUR/JPY on the 1 Hr Chart!
The HOT news on French PMI Thursday Morning followed by the Not-So Hot German and Manufacturing/Services PMI readings began the formations of a strong reversal pattern called a Double Top!
The mixed PMI results for USD seemed to ease Euros' decent
BUT
With 2.8% CPI and talks from the ECB of "possible Rate Cuts in March", this could make Euro start to look less favorable in the bucket of currencies!
Given that CONFIRMATION of Pattern is @ 162.649, I like to keep in mind the flipside of the coin and there are decent levels of Support in the ( 162.45 - 162.33 ) and ( 162.03 - 161.9 ) ranges!
*These could serve as opportune Fake-Out areas to turn this pattern into a Ranged pattern called a BULL FLAG!
-CONFIRMATION of PATTERN @ 162.649
-INVALIDATION of PATTERN @ 163.208
Technical Analysis : EURJPY long 163.209 up to 163.537Resistance
163.209
163.180
Fib .50 level
162.946
Support
162.705
162.688
Profit Target
163.537
EUR/JPY has experienced a rejection from the 162.688 zone and is currently ranging in the 162.946 Fibonacci area. The next potential move is anticipated to be a push to the upside, with a target of breaking the 162.946 level and reaching the daily high of 163.209. Following this, a retracement to the 163.180 zone is expected to gather momentum for a further push towards the profit target of 163.537.
EURJPY: Running out of steam?We're back returning to the ATH, which is around the centreline of the rising channel we've been in since the pandemic.
I'm definitely expecting a reversal soon, we may post another ATH by a whisker, or it may double top before a move back down to the lower boundary.
Any strong JPY fundamentals will break the boundary and signal the reversal imo. Surely the Yen cannot be allowed to remain so weak??
Backing Yen will be on my agenda in the coming months.