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Eurjpyidea

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. If you find this technical analysis useful, please like & share our ideas with the community. What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis. Good Luck! 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.
Long
by maxprofwizard
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
Short
by Mihai_Iacob
2
EurJpy= Best place to buy for 1:5 R:RAfter the June high of around 1.34, EurJpy corrected and found strong support in 1.28 zone. October is a recovery month for this pair with the price rising back above 1.3 important figure Now the pair is in a minor correction of the recent leg up and I expect continuation to the upside 1.31 can be a good place to buy and long term traders can target 1.5 zone Recent 1.34 high can also be a good place for TP for shorter-term traders This scenario is negated if the price is closing under 1.2750
Long
by Mihai_Iacob
4
EURJPY , Its time to sell Hello everybody In this chart , we have zone that support price to go up and now this zone changed to resistance and pullback to it and now its time to sell Another reason for take this sell position is the key ( Key : its the zone that can change the trend ) We are only positioning that follow the trend , the trend is downward and now we are only selling because of the trend change and have pullback , its time to sell Dont forget stop loss and save profit and risk free your position Good Luck Abtin
Short
by Abtin00
EURJPY Dual-Direction AnalysisWait for confirmation on level 129.500 for buy/sell Overall Reasoning: - Level 129.500 has shown good reactions in the past (Scroll back to see) Sell Reasoning - Trend line was broken with a strong bullish push causing a S&D imbalance which is expected to be filled and retest trendline - Overall trend is still bearish (Unless price rejects level 129.500 and moves higher) - Wait for a break and retest of 129.500 level to sell. Buy Reasoning: - Price formed a long-term double bottom on level 128.000 - Broke previous lover high (Red), waiting on a retest. - If price retest level 129.500 with bullish confirmation, look to go long. (Aggressive) - Wait for a considerable retracement between 129.000-129.5000
by NoahXBorg