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Eurjpylong

EUR/JPY on the Hourly Chart: Support and Resistance ZonesSupport Levels: Support 1 @ 156.866: The level at 156.866 serves as an immediate support zone on the hourly chart of EUR/JPY. Support levels are where the price typically finds buying interest and may reverse its downward movement. Traders should keep a close eye on this level, as a breach below it could signal increased bearish pressure. Support 2 @ 156.023: Support 2, situated at 156.023, represents another critical support level. This level has historically acted as a significant point of price reversal. If Support 2 is breached, it may suggest the potential for a more substantial downward move. Resistance Level: Resistance @ 159.767: The resistance level at 159.767 stands out as a key level of resistance on the hourly EUR/JPY chart. Resistance levels are where the price often encounters selling pressure and may reverse its upward momentum. Traders should closely monitor this level, as a decisive move above it could indicate a bullish sentiment in the short term. Conclusion: Analyzing support and resistance levels is a fundamental aspect of forex trading. These levels provide valuable insights into potential price reversals and trend continuations. Traders in the EUR/JPY market should carefully consider the identified support and resistance zones outlined in this blog post. It's important to remember that the forex market is influenced by various factors, including economic data releases, geopolitical events, and market sentiment. Therefore, traders should complement their analysis with other technical and fundamental indicators to make well-informed trading decisions. Risk management is equally vital when trading forex. Traders should employ risk management techniques such as stop-loss orders and proper position sizing to protect their capital. Developing and adhering to a well-defined trading strategy is also key to achieving consistent success in the forex market.
by enclavefx_Analaysis
EURJPY Long Term Buying Trading IdeaHello Traders In This Chart EURJPY HOURLY Forex Forecast By FOREX PLANET today EURJPY analysis 👆 🟢This Chart includes_ (EURJPY market update) 🟢What is The Next Opportunity on EURJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
EURJPY WEEKLY TRADE 24/2 TO 3/3hi all Weekly summaries: Before breaking through the previous high, daily trading had been in a consolidation phase from the previous high at 142.939 to a lower level at 137.385 for 9 weeks. So, unless the price breaks present support at 139.547, a pullback would be a decent opportunity to stay long. In the elliott wave chart, I think the price is in wave 4 after an extended wave 1 and is about to complete wave 5 unless it breaks through the level of149.787, then I'm expecting wave 3 to end at a level between 158 and 160. Let me know what you think In the comments! My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills. Thanks a lot for your support.
Long
by mytw0cents
EURJPY very positiveHello traders. According to my analysis of the EURJPY. There is a high probability of going up. Where the market broke out of a bearish flag. Likewise, the strong resistance at the level of 147000 was broken. The price tested the resistance for the second time. And he couldn't break it. Also, a very positive candle has formed on the daily chart. All of these indicators indicate the strength of the buyers in this pair . Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you
Long
by inv_market09
12
Eur Jpy Long IdeaEUR/JPY has recently experienced a corrective bearish move, creating an opportune moment for traders to consider a long position in this currency pair. This bullish analysis highlights the potential for a reversal from the corrective downtrend, with key technical and fundamental factors supporting the long signal for EUR/JPY. Technical Analysis: Fibonacci Retracement: The corrective bearish move in EUR/JPY can be seen as a retracement within a broader uptrend. By applying Fibonacci retracement levels, we can identify potential support levels where the pair could reverse and resume its bullish momentum. Bullish Divergence: In the recent corrective phase, there might be signs of bullish divergence on the oscillators, such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), indicating weakening bearish momentum and a potential shift in favor of bulls. Key Support Zones: Several key support zones coincide with the Fibonacci retracement levels and previous swing lows, creating a solid foundation for a bullish reversal. Traders can use these levels to place stop-loss orders to manage risk effectively. Fundamental Analysis: Strong Economic Recovery: The European Union and Japan have been experiencing a robust economic recovery from the global downturn, buoyed by fiscal stimulus measures and vaccination progress. As economic activity picks up, the demand for both EUR and JPY may increase, but the Eurozone's larger economy could give it an edge. Diverging Central Bank Policies: The European Central Bank (ECB) has shown signs of tightening monetary policy to combat inflationary pressures, while the Bank of Japan (BoJ) has remained accommodative. This policy divergence could strengthen the Euro against the Japanese Yen in the long term. Risk-On Sentiment: If global markets maintain a risk-on sentiment, investors may seek higher-yielding assets, including the Euro, and the Japanese Yen, being a safe-haven currency, may experience reduced demand in such a scenario. Conclusion: Considering the technical and fundamental factors at play, a long signal for EUR/JPY appears promising after the corrective bearish move. Traders should exercise proper risk management techniques, placing stop-loss orders at critical support levels. A successful long position can capitalize on the potential bullish reversal, fueled by a strong economic recovery in the Eurozone, diverging central bank policies, and prevailing risk-on sentiment in the market. As always, it's essential to stay updated on any relevant news or events that could impact the currency pair and adjust the trading strategy accordingly.
Long
by realtrademaster
EURJPY - Will The Bullish Rally Hold?Analysis: Strong upwards trend (bullish confluence factor) 50% fib retracement touch (bullish confluence factor) Upwards trendline touch (bullish confluence factor) EUR strongest major currency (bullish confluence factor) JPY weakest major currency (bullish confluence factor) 40K long position increase for the EUR (bullish confluence factor) 27K short position decrease for the JPY (bearish confluence factor) Comment: Price has been heading higher and higher for ages and now we finally have a chance to enter. Lets see if this bullish rally will continue. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
4
Monetary Policy Bonanza: Central Bank Decisions to WatchThis week, three of the world's most watched central banks are scheduled to announce their monetary policy decisions. The Federal Reserve will be the first to make its announcement on Wednesday at 2:00 pm, followed by the ECB on Thursday at 8:15 am, and the Bank of Japan later on Thursday at 11:00 pm (NY time). This convergence of central bank activities may lead to potential trading opportunities. The consensus among analysts is that the Federal Reserve will raise borrowing costs by 25 basis points, bringing the interest rate to 5.25%-5.50%. This rate hike is widely expected, so traders will be more focused on the policy outlook of the Bank. How hawkish or dovish the Bank's stance is perceived to be will likely influence the EUR/USD pair. Because inflation gauges in the US have eased recently, the Fed may hint at potential pauses in future rate hikes. About 18 hours later, the ECB is also anticipated to deliver a 25bps rate increase. Once again, traders will be closely watching the Bank's outlook. While there is a possibility that the ECB may hold back from committing to further tightening, the absence of similar inflation softening in the Euro Area as seen in the US makes this less likely. Looking at the EUR/USD chart, the pair has already slipped below a technical support level at 1.10700, and the psychological level of 1.10500 is now in clear view. Among the three central banks, traders believe that the Bank of Japan is the most likely to surprise the markets. There's speculation that the Bank may make adjustments to its yield curve control policy. If this scenario unfolds, the Japanese yen could attempt a comeback in the currency markets, reversing some of its previous losses against the US dollar and the euro.
by BlackBull_Markets