EUR/JPY Bullish Channel Play: Targets and Key LevelsIn this technical analysis of EUR/JPY, we observe a consistent upward trend within a rising channel, offering a bullish outlook for potential trades. Currently, the pair is navigating towards the upper channel line, suggesting a target of 172. Traders should consider entering long positions on pullbacks towards the mid-channel, with a stop-loss slightly below 168 to protect against potential trend reversals.
However, it’s crucial to stay vigilant as a break below the 168 support could invalidate the bullish scenario and trigger a bearish reversal. In such a case, traders might want to switch to a selling strategy, targeting lower support levels.
Eurjpy!
EUR/JPY Gains Momentum During Asian Session, Bullish ImpulseThe EUR/JPY cross attracted buying interest during the Asian session on Tuesday, signaling the start of a fresh bullish impulse.
The Bank of Japan (BoJ) decided to leave interest rates unchanged at the conclusion of its June policy meeting and did not provide any indications about the timing of the next rate increase. Additionally, the central bank might have disappointed some market participants who were anticipating an announcement regarding a potential reduction in the monthly bond purchases. This decision, combined with a generally positive risk tone in the market, has undermined the safe-haven appeal of the Japanese Yen (JPY), providing a substantial lift to the EUR/JPY cross.
Given these developments, we are looking for a bullish setup in the EUR/JPY pair. The current market conditions, driven by the BoJ's stance and the favorable risk sentiment, suggest a potential continuation of the upward momentum for the EUR/JPY cross. Traders should watch for further bullish signals to confirm this trend and capitalize on the opportunity for gains.
EURJPY On a very aggressive Bullish Leg.The EURJPY pair is extending the rise since the December 04 2023 Low, which was a Higher Low on the 27-month Channel Up. Technically, we are half-way on the new Bullish Leg of the pattern and as you can see the 1W MA50 (blue trend-line) has been the ultimate Support since its start.
The previous 2 Bullish Legs have rose by at least +19.30%, so we expect a similar development. Our Target is at 180.000 (marginally below the +19.30% mark).
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EURJPY Is Bearish! Sell!
Please, check our technical outlook for EURJPY.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 171.067.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 169.737 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
EURJPY 1H Short Trade - 1:6 RRRPair: EURJPY
Action: Sell
RRR: 1:6
SL: 171.477
TP: 166.808
Indicators:
EMA200: The EMA200 serves as a critical indicator of the long-term trend direction.
MACD Trend: The MACD indicator helps traders assess the strength and direction of the trend.
Supertrend: The Supertrend indicator acts as a reliable tool for identifying entry points in alignment with the prevailing trend.
EUR-JPY Local Bullish Bias! Buy!
Hello,Traders!
EUR-JPY is trading in an
Uptrend and the pair
Already made a bullish
Rebound from the horizontal
Support of 170.730 and as
We are bullish biased we
Will be expecting a further
Bullish continuation
Buy!
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Check out other forecasts below too!
EURJPY SHORT - Long the strong, short the weak.Hi all,
This week I am sharing my play on EURJPY.
With JPYBASKET showing both accumulation and some weakness (another liquidity grab today), with Japan Bank saying - increasing interest rates is an option now, with strong long positions on JPY by commercial banks and short positions advantage on EUR, the EURJPY pair is my safest pair to trade this week.
I am both managing a major short there and scalping the range to the downside.
I am expecting return to 168.1 - 168.2 area at minimum!
Good luck and play safe!
EURJPY: Short Signal Explained
EURJPY
- Classic bearish setup
- Our team expects bearish continuation
SUGGESTED TRADE:
Swing Trade
Short EURJPY
Entry Point - 170.82
Stop Loss - 171.51
Take Profit - 169.73
Our Risk - 1%
Start protection of your profits from lower levels
❤️ Please, support our work with like & comment! ❤️
EUR/JPY SELLThe short-term outlook for the EUR/JPY currency pair is positive, although the overbought technical condition may indicate a correction. Fundamental factors such as ECB and BOJ policy and economic data continue to have a significant impact on the exchange rate. It is worth keeping an eye on the upcoming ECB and BOJ decisions, as well as global economic news that may affect the exchange rate.
The support level shown in the picture is the ATH level. I'm waiting for a boost now.
EURJPY Fool-Surprise Reverse Ok ?EURJPY direction.
Well, I am excited the algos pushed the price 0.2% higher in compariston to yesterday, we are still due to dump 1-2% to the downside.
Lets Go. Accumulate more and more shorts, this is the only direction.
THIS IS JUST MY PLAN - NOT AN ADVICE.
No stop loss at this point, after loosing crucial levels, we can expect JPY central bank interventionm at any point, and - I am surprised idiot traders are still pushing the price in wrong directon still.
Take profit: 168.13
Stop loss: NONE.
Trade Like A Sniper - Episode 50 - EURJPY - (21st June 2024)This video is part of a video series where I backtest a specific asset using the TradingView Replay function, and perform a top-down analysis using ICT's Concepts in order to frame ONE high-probability setup. I choose a random point of time to replay, and begin to work my way down the timeframes. Trading like a sniper is not about entries with no drawdown. It is about careful planning, discipline, and taking your shot at the right time in the best of conditions.
A couple of things to note:
- I cannot see news events.
- I cannot change timeframes without affecting my bias due to higher-timeframe candles revealing its entire range.
- I cannot go to a very low timeframe due to the limit in amount of replayed candlesticks
In this session I will be analyzing EURJPY, starting from the 2-Month chart.
If you want to learn more, check out my profile.
EURJPY to find sellers at market?EURJPY - 24h expiry
We are trading at overbought extremes.
Price action looks to be forming a top.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
We look to sell rallies.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
We look to Sell at 169.90 (stop at 170.40)
Our profit targets will be 168.70 and 168.30
Resistance: 171.20 / 175.50 / 178.55
Support: 168.95 / 167.35 / 164.30
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.
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EURJPY 300 PIPS SWING IDEAThe EUR/JPY pair recently hit the resistance level from 2008 and has been bouncing off that zone for several weeks, indicating that the bears are attempting to take control. On the H4 time frame, you can spot two double tops forming over some time. Last week, there was a significant impulse move to the downside, culminating in a bearish flag pattern. I'm anticipating two potential reversals within this bearish continuation pattern—either a double top or a head and shoulders—before executing my short positions. Until then, stay vigilant and keep your spirits high.
EUR/JPY BEST PLACE TO SELL FROM|SHORT
Hello,Friends!
EUR/JPY pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 1H timeframe the pair is going down too. 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 169.467 area.
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EURJPY Technical Analysis! SELL!
My dear followers,
I analysed this chart on EURJPY and concluded the following:
The market is trading on 169.60 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish
continuation.
Target - 169.04
Safe Stop Loss - 169.91
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
EURJPY 4Hourr TF - June 17th, 2024Monthly - Bullish
Weekly - Bullish
Daily - Bullish
4Hour - Bearish
Scenario 1: EJ has been looking bullish for a while and it has put us into an area we haven't seen since 2008. My max target on a long position would be around 171.400 due to the lack of other structure to base levels off of. It's likely we will continue bullish but nothing would be confirmed until we see a minor break of structure at 169.950.
Scenario 2: We also could see this new 4hour bearish trend take hold and push price action below our 167.500 zone. If this happens it would look like a promising short position even though it goes against the higher TF trends.
Look for convincing lower lows and lower highs below 167.500.
EURJPY - Follow The Bears!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 EURJPY has been overall bearish, trading within the falling red channel.
Currently, EURJPY is undergoing a correction phase and it is currently approaching the upper bound of the channel.
Moreover, it is retesting strong supply zone marked in blue.
🏹 Thus, the highlighted red circle is a strong area to look for trend-following sell setups as it is the intersection of the blue supply zone and upper red trendline acting as a non-horizontal resistance.
📚 As per my trading style:
As #EURJPY approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich