EURJPYOk this one is a nice one from a closer look we have two opportunities one to buy next to buy (maybe , we have too see the next move)
Eurjpyidea
EURJPY Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of GBPNZD (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 43 - 19 Oct
M > Price is moving in a triangle. It moved up to test monthly resistance that coincides with monthly supply zone and resistance of triangle trend-line. We saw a W formation and price dropped to test its neck and complete the formation. This level also coincided with 0.382 Fib level on last monthly bullish impulse and 0.618 Fib level on weekly impulse.
W > We saw an M formation and as expected price moved up to test its neck and complete the formation. Price in fact moved further up to test weekly support and faced rejection.
D > We expected price to move beyond weekly support and test weekly supply zone to gather more liquidity before turning bearish but price faced rejection at weekly support to start bearish move. This level coincides with 0.618 Fib level on daily bearish move. Price dropped till LH created during its last bullish move and started pull up. We expect price to continue dropping after the pull back.
As per COT EUR saw closure of Long and addition of Short for the 2nd time in a row, reducing net positions. EXY however improved its position for the said week because we saw reduction in overall open interest, it did not allow its position to slip. EXY was weak last week. JPY saw addition of few Long but more Short positions reducing net positions further. JXY was lost its position for the said week but ended with a Doji. However JXY improved its position last week but again ended with a Doji.
Does closure of Long and addition of Short for two consecutive week for EUR suggest any direction? Answer is NO, not as off now. Overall EUR has huge quantum of net positions for past 2 quarters, with much more open Long positions than Short, 35% vs 9% for non-commercials. Institutions can sway market either way in short term with few addition or closure Long/ Short positions till the time they hold their strong Long positions. EUR will continue to be strong unless we see major chunk of Short added for Institutions. Hence for all EUR pairs it is recommended to follow only short term trend with good risk management.
4H > Price is making LH and LL, however last LL coincides with daily demand zone. This could be a reversal sign or price can continue to drop further after making LH, that it has just made.
As recommended with all EUR pairs, trade cautiously with trend and good price management.
Pair Correlation > EURJPY has positive correlation with EURUSD, XAGUSD, AUDUSD and CHFJPY.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
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AP17FX
EurJpy outlookAfter breaking down the rising wedge, EurJpy dropped and found support as expected above 123 zone (horizontal support and beginning of the wedge).
I expect a bull move from this point and 124.50 could be the target
EUR/JPY Technical Analysis
The counter has made a retest of the broken head and shoulder neckline.
It has made the retracement in the form of a bearish flag and has broken down from it.
Further, it has crossed critical support of 123.9 and hence we expect the pair to be bearish in the short-term.
EURJPY FORECAST UPDATE* PRICE REACHES SHORT CONFIRMATION ZONE AND MAKES A RISING WEDGE PATTERN *
Took the trade and its running, It looks like its going to make a correction in the lower time frame and then continuing the pattern's trend.
If there is a confirmation to the correction it will be a second chance entry.
EurJpy- I remain bearishOn Friday's commentary, I draw attention to a rising wedge visible on both H4 and H1 charts for EurJpy.
Now the trend line support of the pattern is broken and I expect a continuation to at least 123 zone.
The pair is trading at the time of writing in support and a small corrective rally is not out of the question.
This rally can provide bears a good opportunity to sell with a mentioned target and a SL above 125.50
EURJPY Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of EURJPY (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 42 - 12 Oct
M > Price is moving in a triangle. It moved up to test monthly resistance that had pushed price massively down last time. We saw a W formation and price dropped to test its neck and complete the formation. This level also coincided with 0.382 Fib level on last bullish impulse.
W > We saw M formation and expected price to move up to test the neck, which it did last week.
D > Price is now at daily support, now turned resistance, it can continue to move further up to test daily supply zone.
As per COT EUR saw closure of Long and addition of Short, reducing net positions; improving its position for the said week. EXY further improved its position last week. JPY had closure of Long and addition of Short reducing net positions, however Commercials added both Long and Short positions, increasing open interest. This made JXY slightly recover its position for the said week. However JXY was indecisive last week ending with Gravestone Doji.
Overall EUR has huge quantum of net position, since past 2 quarters, with much more open Long positions than Short. This reflects Institution holding their Long positions for bigger gain in time to come, EUR will continue to be strong till the time we see major chunk of Short added for Institutions.
4H > Price is making HH and HL in its current bullish move in an arrow head formation. We expect a break to the downside but will wait for price reversal around daily supply zone.
Pair Correlation > EURJPY has positive correlation with EURUSD, XAGUSD, AUDUSD and CHFJPY.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
Thank You
AP17FX
EurJpy- Back to 123.00?The rise from 122.50 is corrective in a ABCD pattern where D leg is a rising wedge which gives me reasons to think that EurJpy is ready for a drop.
I will try to sell rallies above 125 figure with a SL around 126 and a TP at 123 zone
EURJPY long trade ideaPlan: wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in the comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX
EURJPY long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
EURJPY Once again, market will always leave clues as to what it wants to do, I do not predict the market but my bias would be for a sell position seeing the price action clues on weekly and daily.
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Past results does not Guarantee Future Results, do your due diligence.
Trade Rules:
Use proper risk management
When the trade is taken, once in 20 pips profit, breakeven and protect your capital
As trade moves, look for fresh entries in line with the position taken
EURJPY So EJ looks like it is taking an upward move.
Use Proper Risk Management
When in 20pips Profit, Breakeven with a 2 pip "Stop Profit"
Disclaimer: Past Results does not guarantee future results
Do your Due Diligence before taking the trade
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EJ Analysis 28/09/2020We are currently trading in a 15 pip range. I will not be trading in the range as it is too small. If we break above resistance and form a support on lower timeframes, I would look to execute buys up to the next resistance, I would look to secure positions at the first two buy targets highlighted on the chart as those are rejections areas. There is clean traffic to the downside if we manage to break through support and form a resistance on the lower timeframes I would look to take potential sells as there is a decent sized range to fill.
EJ Analysis 27/09/2020 - UpdatePrice broke support and made a low but resistance was not formed to take an entry, as resistance formed later on I executed a sell as the 15m candle broke the low of the previous bearish 15m, with our SL very tight above the previous candle. As candle tapped the wick of the low, entries were secured at 18 pips, before price came back to entry, so a small 18 pip win but still a successful trade with no drawdown.
EURJPY tend to move further downside,support levels are broken⚡️ The price felled below the 50% Fibonacci and 123.00 key psychological level
⚡️ And the previous price action level was broken and felled below the support level
⚡️ Risk sentiment is remain negative and in Asian session it has make a long bearish candle in 1hr timeframe
⚡️ The price is well below the 03 EMA's and the Ichimoku cloud is pointing towards south
⚡️ RSI is felled below the 50 level reaching towards 30 we can expect minor rebound from this level but EURPY is trading in a downtrend
⚡️ At current level we can see a clear bearish structure.
⚡️ At 11.30 GMT ECB president Miss.Lagarde going to deliver a speech we are expecting that ECB will make a concern about recent appreciation of EURO. And the worrying about recent surge in corona virus
⚡️ The next key resistance level would be 121.00 and a potential level for trend reversal
⚡️ In Elliot wave principal The second wave i already completed and The 3rd wave is underway
Pivot points-H4
R3 123.25
R2 123.07
R1 122.75
PP 122.57
S1 122.25
S2 122.07
S3 121.75
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EURJPY - Outlook 21/9/2020 - Sell BiasedHi all traders,
This is a video analysis of EURJPY
I hope this video analysis will help traders to identify those important levels so as to trade safe.
Cheers and thank you very much for your time in viewing this video analysis.
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EURJPY - SELL BIASEDHi all traders,
Good evening and hope everyone have a fruitful weekend!
Here is a video analysis of eurjpy and take extra note on this pair for next week.
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EURJPY - sell biased Hi all traders/followers of my tradingview.
This is another trade idea i have for you guys!
Hope it can help you all in your journey to get some money.
Do take note for this trade setup.
If price break above the trend line strongly, this idea is invalidated.
Hopefully all goes well.
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**Disclaimer: All trade ideas are of my own personal views.**
Cheers everyone and have a nice day!
