EURJPYUpdate to my previous chartwork: I believe the overall trend for this pair is bullish bias, however there will be be a moderate retracement below the 125 handle. I left out indicators as I trade purely based off naked charts/candlestick analysis more often these days as they've been playing up to par.
Eurjpyforecast
EURJPY - SHORT; SELL it right here!This is coming off of a major Double/Triple Top on the daily with not much under it.
Right now probably an equivalent trade (in magnitude) with the AUDJPY short but probably a faster drop.
One can use <25 pip stops here until it fully breaks down - which shouldn't be long.
Here is the Daily
EurJpy- consolidation in descending trendlineAs I said yesterday I expect EurJpy to continue higher.
As we can see from the daily chart the pair is consolidating for 7 trading days now just under this important and definitory resistance and in my opinion, we will have a break to the upside.
125 is very strong support now and 125.50 zone should hold for the bulls to be in total control
EurJpy- Can break above 127In my last EurJpy, I said that I expect 125 resistance to be broken and the price to reach 127 zone. This happened and we may ask, now what?
As we can see from the chart, the impulse for EurJpy is strong and although we have a normal correction from 127 zone, this is forming a flag.
I expect the bulls to defend 126 zone and eventually EurJpy to break above 127.
Also, a break above 127 would be a signal for a long term change of trend.
P.S: UsdJpy looks like will go above 105 and also EurUsd is in a strong uptrend on the medium-term, so would mean a perfect situation for buying EurJpy
EUR/JPY SELL IDEAHey tradomaniacs,
welcome to a new free trading-setup.
Note: This is meant to be a preparation for you. As always we will have to wait for a confirmation.
EUR/JPY: Daytrade-Preparation
Market-Sell: 126,050
Stop-Loss: 126,550
Point-Of-Risk-Reduction: 125,625
Take-Profit: 125,050
Stop-Loss: 50 pips
Risk: 0,5% - 1%
Risk-Reward: 2,19
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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EURJPY | Perspective for the new weekAs the bulls are trying to break up the resistance level of Y126.620, price is caught in Double Top situation where a reversal is possible in the coming week(s).
Tendency: Downtrend ( Bearish )
Structure: Double Top | Supply & Demand
Observation: i. Since the beginning of the month, buyers have found it difficult to push the price beyond Y126.620 with a second attempt culminating with a sharp rejection of this level on Friday.
ii. Price is presently within a significant zone (Y126.500 & Y127.000) - a Key level from the perspective of our weekly chart.
iii. Double Top: The appearance of an extremely bearish technical reversal pattern forming after price reached Y126.600 two consecutive times with a moderate decline between the two highs is a harbinger to Sell for me!
iv. However, it is important to note here that I shall be looking out for a Breakdown of the Y126.00 level for sell confirmation in the coming week.
v. This been said, a Breakout of level Y127.000 with significant candles will disregard this bias and a shift in perspective for a rally will emerge.
Trading plan: SEL confirmation with a minimum potential profit of 150 pips.
Risk/Reward: 1:3
Potential Duration: 4 to 10 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
4HR Analysis for EURJPYI believe the overall trend for this pair is bullish bias, however there will be be a moderate retracement to and below the 124 handle. I'll keep it short on this post and let the audience do some digging on my chartwork to see if it makes sense. I based this chartwork solely off pure market movement and left out indicators. Please feel free to ask me any questions.
EurJpu- to break above 125- 200 pips possible tradeThe drop from 127 to 122 is clearly corrective in nature and, after finding strong support at 122, the EurJpy has risen in a constructive way.
Now the pair is trading just under 125 important resistance and neckline of an H&S and I think a break up is inevitable.
That being said my strategy for this pair is buying dips and 127 could be a reasonable target.
EUR/JPY BUY IDEAHey tradomaniacs,
welcome to a new free trading-setup.
Note: This is meant to be a preparation for you. As always we will have to wait for a confirmation.
EUR/JPY: Day-Swingtrade-Preparation
Market-Buy: 123,260
Stop-Loss: 122,770
Target 1: 123,710
Target 2: 124,020
Target 3: 124,490
Stop-Loss: 49 pips
Risk: 0,5% - 1 %
Risk-Reward:2,72
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)