Finally Reversal Pattern On EUR/JPY To Get 200 Pips !This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
Eurjpy!
EURJPY → Correction in the offing?FX:EURJPY climbs further and flirts with the 164.00 mark on Wednesday, new yearly peaks.
Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 163.94 (November 15) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23).
In the meantime, the daily RSI enters the overbought territory near 74, opening the door to a potential near-term corrective move.
So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.46.
Strifor || XAUUSD-16/11/2023Preferred direction: BUY
Comment: In metals, the upward reversal happened a little earlier than expected. Naturally, gold picked up the momentary weakness of the American currency and is now seeing continued growth within the mid-term trend. Now we are setting a small target for ourselves from current prices, namely the level of 1981.683.
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Strifor || USDJPY-16/11/2023Preferred direction: SELL
Comment: The weakening dollar plays in favour of the yen, which is right at key levels. Here we are seeing a deeper upward correction in favor of the dollar after yesterday’s impressive momentum. However, most likely this fuse on the part of buyers will be extinguished and the price will go down again. We highlight two scenarios for this short trade.
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EURJPY to continue in the upward move?EURJPY - 24h expiry
We are trading at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A lower correction is expected.
We prefer to consider the medium term trend and expect buying interest to support as prices move lower.
Further upside is expected although we prefer to buy into dips close to the 162.90 level.
We look to Buy at 162.90 (stop at 162.30)
Our profit targets will be 164.40 and 164.80
Resistance: 165.20 / 166.65 / 167.40
Support: 163.10 / 162.00 / 161.25
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EURJPY shows rejection from Trendline, This time too??EURJPY
price shows rejection from the trendline everytime, price seems to be rejection from the trendline this time too, if price continues to show rejection from the trendline we can expect a bear move this time..
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*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Strifor || USDJPY-14/11/2023Preferred direction: SELL
Comment: This currency pair continues to stand out from other major currency pairs. Here, despite the strengthening of the US dollar, which is expected in the near future, the yen will most likely strengthen. This is kind of like one of the market maker's tricks. We do not exclude another false breakout of the local maximum and then a fall towards level 150.
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TradePlus-Fx|EURUSD: change to sell💬 Description: The situation with the euro still forces us to take a closer look at sales. In the medium term, we are most likely to see a decline. Before this, one can take a closer look at long, but not above the level of 1.07000 . The most conservative thing to do is to place your take profits below this level. After which, as was said, a deep drop is expected from the promising update of local minimums. In a more global picture, you can take a closer look at the level of 1.05194 as a target.
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EURJPY → There is still room for further upsideFX:EURJPY manages to clear the 162.00 hurdle and print fresh 2023 tops at the beginning of the week.
Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 162.36 (November 9) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23).
Bolstering the above, the daily RSI approaches the 68 level, still leaving some room for the continuation of the uptrend before entering the overbought territory.
So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.23.
EURJPY November 13th, 2023EUR/JPY is currently trading at 163.1, and there are a number of factors that suggest that the pair could continue to move higher in the near term.
First, the ZEW Economic Sentiment Index for Germany is expected to improve from -1.1 to 5. This would be a significant improvement, and it would suggest that the German economy is on track to continue to grow in the coming months. A stronger German economy would likely be supportive of the euro, as it would make German goods and services more competitive in international markets.
Second, the Japanese GDP growth rate is expected to slow from 1.2% to -0.1% in the third quarter of 2023. This would be a disappointing result, and it would likely weigh on the Japanese yen. A weaker yen would make Japanese imports more expensive, and it would also make Japanese exports less competitive. This would likely be supportive of the euro, as it would make European goods and services more affordable in Japan.
Third, the Japanese balance of trade is expected to deteriorate from 72.1 billion yen to -735.7 billion yen in September 2023. This would be a significant decline, and it would likely put further downward pressure on the Japanese yen. A weaker yen would be supportive of the euro, as it would make European goods and services more affordable in Japan.
Overall, the combination of these factors suggests that the EUR/JPY pair could continue to move higher in the near term. Traders who are looking to buy the pair could look to do so at current levels or on a break above the 170 level.
EURJPY → Upside momentum has further legs to goFX:EURJPY resumes the upside and prints new yearly highs in the vicinity of the 162.00 yardstick on Friday.
Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 161.85 (November 10) is expected to face the next significant resistance level not before the 2008 peak of 169.96 (July 23)
So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.13.
Strifor || XAUUSD-10/11/2023Preferred direction: Neutral
Comment: Regarding gold, everything remains valid. Here we expect a balance before the start of the new week; most likely, sellers will push the price down a little, but the balance will still be preserved. Today, a fall below the level of 1938.913 is not expected, especially a close below this level.
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EURJPY → The 162.00 mark looms closerFX:EURJPY struggles to advance further despite printing new YTD peaks in the 161.70/75 band on Thursday.
Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 161.74 (November 9) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23)
So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.03.
Daily Trend Reversion Options PlayOpened a position on EURJPY to fade the move back towards the Daily uptrend. Decided to go with an option for this with Exp on Friday Nov 10th @160.500 strike.
Price accelerated away from the uptrend after the BoJ announcement on Oct 31st, before it pulled in and supported at 159.500 for a couple days and rallied again. I feel this provides a good risk reward on the idea, supported by intra-day bearish price action today.
It looked like we had broken down yesterday, but price reversed and regained VWAP. After that though we only made a marginal new high in Asia and has since trades back below VWAP and failed to hold support at 160.850.
Strifor || NZDUSD-09/11/2023Preferred direction: Neutral
Comment: The situation with the New Zealand dollar is similar to the situation with the euro. In the short term, there will most likely be a slight upward impulse, after which there will be a continuation of the fall within the framework of the medium-term downward trend. The long-term picture is also on the side of sellers.
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EURJPY → Rally looks unabated so farFX:EURJPY extends the march north of the fifth session in a row and clinches a new 2023 peak past the 161.00 hurdle on Wednesday.
Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 161.05 (November 8) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23)
So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 151.92.
EURJPY SELL | Day Trading AnalysisHello Traders, here is the full analysis.
Watch strong action at the current levels for SELL. GOOD LUCK! Great SELL opportunity EURJPY
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Strifor || USDJPY-08/11/2023Preferred direction: BUY
Comment: The long-term idea of going short on this currency pair remains, however, as we predicted earlier, it will not do without additional false breakouts and price growth towards the level of 155. Now another long setup has been formed, the growth prospects of which locate at the level of 151.500. After which there is a possibility of a rollback downwards, however, one need to wait for this and make a decision based on the fact that the signal is formed.
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Strifor || EURUSD-08/11/2023Preferred direction: SELL
Comment: As expected, the US dollar's competitors rolled back at the beginning of this week, and most likely this trend will continue until the end of the week. At the moment there is a good sell signal with the potential to fall to 1.06318.
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