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Eurjpyforecast

EURJPY possiblr rangeA possible trade set up for EURJPY. i believe there is further downside available in EJ, mainly because of the impeachment trial in the U.S starting next wee,k which may help boost demand for safe haven assets. the bounce could coincide with the lighter than usual trading volume in the U.S Monday because of the holiday. We also have the BOJ rate decision Monday evening and press conference that may weaken the yen, in my opinion, as I don't expect the BOJ to be hawkish. Moving forward we have the trial beginning on Tuesday and paired with the return of volume we may see a continuation of the drop which would coincide with an ABC correction in the near term. From there it becomes a bit more difficult as we come into a demand zone and longer time frame trend line. A break below the trend line and a daily close below it certainly suggest further downs side is possible. Any time price is over 122.50 it is bullish in my opinion, but there may be near term resistance in 123.25 area that pushes price down slightly to retest the 122.50 area; before continuing up in an attempt to close the gap. I see a strong resistance area up top so any over shoot of the gap may be contested . not trading advice. just my perspective. happy trading
Short
by Entrenched
6
EURJPY Forex cross pair supply and demand analysisThis is a longer term analysis for EURJPY Forex cross pair done on the monthly timeframe. As explained in many other supply and demand scenarios, when we have a longer term monthly imbalance that gains control, we are not allowed to take a position against it. If we take a look at EURJPY Forex monthly timeframe analysis wearing the supply and demand glasses, we can see the reason why EURJPY forex cross pair is rallying instead of dropping. EURJPY Forex cross pair has been dropping for months until monthly demand imbalance at 1 gained control. This cross pair has been rallying from down there for five consecutive months, we are expecting price to continue rallying in the forthcoming months. That does not mean price is not going to correct at all, the underlying price hardly moves in a straight line. But what we do know is that a strong monthly demand imbalance has taken control of EURJPY Forex cross pair.
Long
by AlfonsoMoreno
EURJPY Market Outlook | Daily Forex Market BreakdownEURJPY Looking very VERY good. EJ retesting resistance now. Patience will be very key. Definitely at the top of our watch list. I would like to see a nice push to the downside followed by a retracement giving us a clean opportunity for for a short. Like mentioned patience will be absolutely key. We could take a short now but that would be gambling, we don’t need the mindset of a gambler we are developing your mindset as traders. As true forex alchemists. We need to remain diligent and wait for the market to present the highest quality entries for us.
by Layne_LV
2