Eurjpyforecast
EUR/JPY WILL IT MAKE THE RETRACEMENT?Monthly
The price is moving between supply and demand. The price is currently on the way to the supply area. We can definitely expect the price to reject the supply area.
Weekly
Price is currently over extended. When price is over extended we can expect a correction. We could definitely expect the price to reach a little higher before the correction to the down side.
Daily
The price is currently creation higher highs and higher lows. The price is definitely in an up trend. When the price switch to bearish structure we can start looking for entry's.
In general we have to wait for the change of environment to the down side in M,W and D to look for a short opportunity.
Also remember, to have better point of entry we have to look in lower time frames.
EUR/JPY Short Trade UpdateHey Guys!
As you know, I'm currently waiting for a pullback to at least 131.67 for a short entry with the stop loss at 133.68 and the main target at 114. 40 .
On the last 4h move up I didn't get the pullback to my entry level at 131.67 by roughly 8 pips!(Wha-----t?)
So I've been watching the lower time frames for signs of short term long strength to see if I can get that pullback.
In this video, I show how I was able to tell that we will be getting a move down for the last week or two. Just a short explanation of reading strength of the longs or shorts through price action.
So I'll keep you guys updated with this set up!
Have a great day!
Ken
Disclaimer: This is not Personal Financial Advice.
EURJPY RISKY LONGS 📉📉📉📉 Expecting bullish price action on this pair as price takes out weekly low that means a intra-week reversal should occur, price made a bullish bos retraced back and failed to make the low lower, a h4 bullish closure would be a nice confirmation to long it for 2.5R
What do you think ? Comment below..
Confirming Trends with the Lower Time Frames EUR/JPY ExampleHey Guys!
As you know, I'm currently waiting for a pullback to at least 131.67 for a short entry with the stop loss at 133.68 and the main target at 114.40.
Like always, I'm watching the lower time frames to confirm whether or not I will get this pullback to 131.67.
During the initial move long there were several confirmations of short term long strength on the 1M-15M charts through Trendline break outs then immediate breaks back into the trendline. ( Immediate break back in means: the break out candle's close and the break back in candle's open is at the same price level)
Thus was expecting short term long strength. However, 8 pips from my short entry level, there was a legitimate 15M Head and Shoulders that went it's target height level before reaching the right shoulder's stop loss level. Signaling waning short term long strength. ( If long strength was present, price should ignore the H&S and not reach it's target height price level and stop traders out at the right shoulder's stop loss level. )( I can't explain the details here.)
So price did not reach my short entry level at 131.67 by a whopping 8 pips! (Yikes!!!!)
Soon after, there was a 4h trendline break out with no immediate break back in further signaling 4h waning long strength.(Ti----mberrrrr!)
Currently, there was a downward 1h trendline that was broken out to the long side, with no immediate break back in signaling "slight" waning short term short strength. ( I say slight due to the 1h Trendline not being as prominent as I would like to signal waning short strength.)
In this way, I measure whether or not I will get a pullback for higher time frame entries (Weekly trade in this case) using the lower time frames to confirm short term long/short strength. However, I also use this method to confirm higher time frame trends. Or as I like to call it, higher time frame "biases".
I'll keep you guys updated with this short set up!
Have a great day guys!
Ken
Disclaimer: This is not Personal Financial Advice.
EURJPY Short Bias .Waiting for Pullback for Short Entry.Hey Guys!
The Weekly(longterm) bias is short. Or in other words, price is likely to reach 114.40 before reaching 133.68.
So I'm waiting for a pullback to at least 131.67 or ideally to 132.68 for a short entry with a stop loss at 133.68 and its main target at 114.40.
Keep in mind, this is assuming the lower time frame confirmation retains its integrity of short strength confirmation.
I'll keep you guys updated!
Have a great day!
Ken
EURJPY Trading IDEAHello Friends,
We are into a very strong selling zone for EURJPY. From my analysis it's a short time for this pair. There are multiple rejection from the trend area. Now it is retesting this pair. I hope after retest price will go short.
It's an analysis and my trading idea. You always trade at your own risk. Where trading is always risky.
Happy Trading!
Thank you!
EurJpy can drop to 127.50 zone supportSo far, the month of January was a month of consolidation and distribution for EurJpy, with the price moving between 130 and 131.50
Yesterday the pair has broken under important 130 support and we can expect continuation to the downside
At this moment A lower high is in place for this pair and I favor short trades towards 127.50 support
Sell rallies around 130 can be a good strategy
EURJPY SHORTS 📉📉📉Expecting bearish price action from this area as price shifted the market structure from bullish into bearish, we had a bearish bos. Right now we should retrace back into bearish orderblock h4 + filling the bearish imbalance and then make another leg to the downside.
What do you think ? Comment below..
EURJPY analysis with 2 TPs 03/03/2021as we can see this instrument was up trending in an ascending Parallels channel and there are no majeure resistances on its way,
so we can speculate 2 TPs where we may have some Resistance so we can capitalize our positions there.
one of the most important confirmations are that the price has touched the Fibonacci projection 161.8% extension level and there is a convention that, once the price touches this level there are over 85% of chances that the price will continue its rally to 261.8% of the same Fibonacci projection, where it has confluences with our Price Action defined 1 TP.
EURJPY | Use the Pull Back to get in.When it comes to EURJPY , a while ago, we've seen a strong impulse to the downside. And got rejected from a previous resistance area, which is now acting as support. Looks like we don't have any resistance till T1. I think T1 area is also a tad weak; so there is a good chance price might break T1 and move towards T2. So you should be cautious when price reaches T1. If price breaches T1 then you could keep the position till T2. If not, make sure to close the half of your position. If you are going long, please make sure to place stop below the previous support area. And only buy when you get a pull back.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
EURJPY top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
EUR/JPY--- ATTEMPTING Y133 LEVELThe euro has had a very strong week against the Japanese yen, closing near the ¥131 level. It now appears that the Japanese yen itself is in trouble so this could continue going forward, at least into this week. At this point, I would not be surprised at all to see this market make a serious attempt to get to the ¥133 level, especially if we end up having more of a “risk on week”, which I do think will probably be the case as traders put money back to work after the holidays.
EurJpy is in strong resistance zoneAfter the 500 pips drop from 133 recent top, EurJpy has found strong support in 128 zone and has started to rebound.
This rebound can be over soon with the pair facing strong resistance above 130.
This resistance and sell zone extends to 131.50 and bears can look for opportunities to sell in search of a good R: R.
The target can be 128 support and 132 would negate this scenario
EURJPY top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
EurJpy can drop 500 pipsTwo days ago I said that EurJpy could correct some and reach 130 zone. However, the pair looks very weak and seems like a break of support is imminent.
Looking at a longer TF, we can see that the pair has formed a very large double top starting from April, and a break here would confirm the pattern.
I'm bearish this pair and I think that the 500 pips target from the double top will be reached in medium term.
Sell rallies can be a good strategy and EurJpy above 130 would negate this scenario