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Eurjpylong

Breakout Identified in EURJPYThe Breakout Opportunities system has just bought EURJPY at 128.837. The system recommends entering this trade at any price between 128.702 and 128.984. The signal was issued because the EURJPY has broken its 24-hour high while our Speculative Sentiment Index was at -1.266, suggesting that the EURJPY may have further to rise. A stop loss has been set at the 24-hour low of 128.297 and a profit target has been set at the 1 Day ATR level at 129.425. The system will move the stop to the next 24-hour low every time that 24-hour low is higher than the previous 24-hour low. Breakout Opportunities is a breakout strategy that aims to catch the significant moves that typically happen when currencies break through technical support or resistance. Signal ID: 75514 Time Issued: Thursday, 25 March 2021 08:30:16 GMT Status: open Entry: 128.702 - 128.984 Limit: 129.425 Stop Loss: 128.361 Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here. Past Performance is not an indicator of future results.
Long
by FXCM
13
possible day trading setup for EURJPYThese are two possible scenarios that could play out on this pair. I'm not expecting price to do anything or move in any particular direction, I will wait for the market to reveal it's next move. Price is currently in an up trend as seen on your higher time frames however it has pulled back quite a bit. Price will need to start setting lower lows and lower highs on the higher timeframes before I can confirm that the uptrend has ended but for now this is just a simple day trading setup to catch an entry which ever way the market decides to move. I only enter buys at break of resistance and retest and I only enter sells at break of support and retest. Confirmation is key.
by CaitlinAmanda
EURJPY 4H 100pip BUY - Week starting: 23.3.2021Hello. I'm a new trader working on my TA, any pointers or constructive criticism to help me improve are appreciated ! I believe we are seeing the formation of a trend reversal pattern specifically a bearish triple top, where price moves upward in a bull trend, ranges- creating three equal highs, and then forms a down trend. As can be seen on the graph price has formed 2 highs whilst consolidating within a range of 126pips. My trade idea is to trade the 3rd bullish leg which will bring price up to the 3rd high point of the trend reversal pattern. If price bounces off the marked support level, we can hope enter a buy position if the candlestick closes as bullish. This seems likely as rejection wicks can already be observed. Hidden bullish divergence suggests that price is waiting to buy, this is shown on the macd and stochastic indicators. The stochastic indicator recently crossed below the 20.00 dashed line (I call this a 'shark out of the water' event), showing that price is waiting to buy, we should wait for confirmation on the stochastic before entering a position. I believe entering with a sensible amount of confirmation could result in a 75pip - 100pip trade if TP is hit. If I enter this trade I will draw a fib and take partial profits at each key level. This is a trade idea so please do not trade based off my analysis alone Vince / Vmoney
Long
by Vmoney10
1