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Eurjpydaily

BULLISH OPPORTUNITY ON EURJPY!!Once again guys, we have another beautiful set up here.. oh btw, if you don't follow me already.. HIT THAT FOLLOW BUTTON. Right,Right.. Let's dive into the technicals. We have a nice Bullish run before price reaches that point of resistance where price starts to retrace bearish. As you have probably gathered, my strategy is simple and I would recommend everyone who is trying to find their strategy to keep it simple. That's the trick. The profitability is in the simplicity. 50% Fibo retracement is marked at the grey line which is my entry for this trade. I have risked 1%. This is calculated by the number of pips from my entry to my stop loss and then multiplied by the cost per pip ( i.e. 160 pips x $8.80). Bullish divergence is present and take profit as been marked too. Happy trading all and remember to hit that follow button :) Malika K
Long
by Malika_Analysis
Long EURJPY Inverted H&S Formation Based on Daily +Weekly ChartsWe've got an inverted H&S pattern formation completed on the Daily + Weekly time frames for the EURJPY with a potential long term target of 800+ pips. This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Long
by AEFX786
Short EURJPY Longterm Based on 4H + 1D ChartsWe recently shorted the EURJPY with great success and it is currently travelling back up to the trend line. As the current trend line is based on the 1D chart and the day is not over, it is not possible to determine exactly where the current trend line will stop and for this reason, I have made two possible entries on this trade setup. We can see the price has gone from making Higher Highs to Lower Highs and is now making Lower Lows as well, indicating that the upwards momentum is coming to an end. If price respects the trend line and bounces down, providing our 4H candle closes below the lower horizontal green line it should be a safe place to Short from. However, if the price reaches the upper resistance and is rejected, then we can enter from the higher green horizontal line providing a 4H candle closes below it. We have some support/resistances to battle through along the way and our first TP will be around 122.1 This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Short
by AEFX786
Long EURJPY Short Term Based on 4H + 1D ChartsWe recently shorted the EURJPY with excellent results, hitting our price target and bouncing from the major support/resistance line as expected. Now we are heading back up and as you can see I have outlined how we've gone from making Higher Highs to Lower Highs and so it would seem the uptrend is coming to an end. Ideally I would wait for price to reach the top, bounce off and then short it coming down, which I will... but there is an opportunity here to make some pips :) This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Long
by AEFX786
EURJPY right on major support, time to buyBuy above 123.15. Stop loss at 122.49. Take profit at 124.15. Reason for the trading strategy (technically): Price has dropped strongly and is now testing support at 123.15 (Fibonacci extension, Fibonacci retracement, horizontal swing low support, bullish divergence) and we expect to see a strong bounce above this level to at least 124.15 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (21,5,3) is seeing strong support above 4.7% and also sees bullish divergence signalling that a bounce is impending. Correlation analysis: We’re expecting overall JPY weakness with bounces expected on AUDJPY, USDJPY and EURJPY. Hence this falls very nicely into a correlated move.
Long
by MEX_Exchange
EURJPY testing major support, remain bullishBuy above 124.18. Stop loss at 123.62. Take profit at 125.24. Reason for the trading strategy (technically): Price is now testing our major support. We remain bullish looking to buy above major support at 124.18 (Fibonacci retracement, horizontal overlap support, bullish divergence) for a push up to at least 125.25 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) is seeing strong support above the 5% level where we expect a strong bounce from and also sees bullish divergence signalling that a bounce is impending. Correlation analysis: We’re expecting overall JPY weakness with bounces expected on USDJPY and EURJPY. Hence this falls very nicely into a correlated move.
Long
by MEX_Exchange
EURJPY profit target reached. Turn bullish above major supportBuy above 124.35. Stop loss at 123.65. Take profit at 125.25. Reason for the trading strategy (technically): Price has reached our profit target from last week. We prepare to buy above 124.35 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 125.25 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) is seeing strong support above the 5% level where we expect a strong bounce from. Correlation analysis: We’re expecting overall JPY weakness with bounces expected on AUDJPY, USDJPY and EURJPY. Hence this falls very nicely into a correlated move.
Long
by MEX_Exchange
EURJPY approaching major resistance, prepare to sellSell below 125.80. Stop loss at 126.13. Take profit at 124.60. Reason for the trading strategy (technically): Price is approaching major resistance at 125.80 (Fibonacci extension, horizontal swing high resistance) and we expect a strong reaction off this level for a drop to at least 124.60 support (Fibonacci retracement, horizontal overlap support). Stochastic (55,5,3) is seeing major resistance below the 96% level where we expect a drop from. Correlation analysis: We’re expecting overall JPY strength today with drops expected on USDJPY and EURJPY.
Short
by MEX_Exchange
EURJPY approaching strong resistance, prepare to sellSell below 124.62. Stop loss at 125.21. Take profit at 123.19. Reason for the trading strategy (technically): Price is approaching strong resistance at 124.62 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) and we expect a drop from this level to at least 123.19 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below the 94% level where we expect a strong drop from. Correlation analysis: AUDJPY and USDJPY are expecting bounces. So we have to exercise caution on this trade.
Short
by MEX_Exchange
EURJPY dropping nicely, remain bearishSell below 124.41. Stop loss at 125.10. Take profit at 122.62. Reason for the trading strategy (technically): Price reached our selling area and is dropping nicely towards our profit target. The plan today is to remain bearish below major resistance at 124.41 (Fibonacci extension, Elliott wave theory, horizontal swing high resistance, bearish divergence) and we expect a drop from this level towards 122.62 support (Fibonacci retracement, horizontal overlap support). Stochastic (89,5,3) is seeing major resistance below the 94% level and also sees bearish divergence vs price signalling that a drop is impending. Correlation analysis: We’re expecting overall JPY strength today with AUDJPY and EURJPY both expecting drops.
Short
by theforexarmy
EURJPY profit target reached perfectly, time to sellSell below 120.23. Stop loss at 120.70. Take profit at 119.44. Reason for the trading strategy (technically): Price shot up and reached our profit target perfectly from yesterday. We prepare to sell below major resistance at 120.23 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a drop to at least 119.44 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below the 95% level where we expect a reaction from.
Short
by theforexarmy
4
EURJPY bounced perfectly, remain bullishBuy above 119.05. Stop loss at 118.19. Take profit at 120.23. Reason for the trading strategy (technically): Price bounced absolutely perfectly above our buying level. We now remain bullish with price making a further bullish exit of its descending resistance-turned-support line. The goal is to buy above 119.05 support (Fibonacci retracement, pullback support) for a further push up to 120.23 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (55,5,3) has made a bullish exit signalling a further rise is expected.
Long
by theforexarmy