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Eurjpyprediction

EUR/JPY fails to surge above 130.05Daily outlook - EUR/JPY fails to surge above 130.05 In second half of the previous trading session the currency exchange rate made an unexpected turn around near the 130.05 mark and started to fall. The reason behind pair’s inability to reach the weekly R1 at 130.64 might be related to existence of a larger descending channel with two reaction highs and two reaction lows. If this pattern is actually in force, then the Euro has to continue to lose value against the Yen until the rate will reaches its southern boundary for the third time. But, in order to do that, the pair has to bypass once again the March 2016 high at 128.18. Most likely the new attempt is going to fail as well. On the other hand, the pair has a chance to succeed if some fundamental event will accelerate the fall.
by UnknownUnicorn890690
EUR/JPY slips to March 2016 high Daily outlook - EUR/JPY slips to March 2016 high In accordance with expectations, the Euro continued to depreciate against the Japanese Yen until the currency pair reached a support set up by the March 2016 high at the 128.18 level. Afterwards, the rate made a rebound and started to move in the upward direction similarly as it did yesterday. A release of the US macroeconomic data has only given an additional impulse for this upside movement. Most probably, the surge will be stopped near a combination of the 55-hour SMA and the monthly S1 at 128.79. However, even if the rate manages to sneak to the top, the Yen is going to try to restore some of the lost positions after the markets will calm down. The fact that the currency pair, generally, should continue to slip to the bottom is supported by 67% of traders with bearish sentiment.
by UnknownUnicorn890690
EURJPY profit target reached perfectly, prepare to buy for a bouBuy above 129.54. Stop loss at 129.20. Take profit at 130.50. Reason for the trading strategy (technically): Price has dropped from our selling area perfectly and reached our profit target. We prepare to buy above major support at 129.54 (Fibonacci retracement horizontal overlap support, Fibonacci extension) for a push up to at least 130.50 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) is seeing strong support above 7.5% where we expect a bounce from that corresponds to the bounce we’re expecting on price.
Long
by MEX_Exchange
1
EURJPY right on major resistance, prepare to sellSell below 130.50. Stop loss at 130.81. Take profit at 129.61. Reason for the trading strategy (technically): Price is reacting off major resistance at 130.50 (Fibonacci extension, horizontal swing high resistance, bearish pride action) and we expect to see a reaction off this level for a drop towards 129.61 support (Fibonacci retracement, horizontal pullback support). Stochastic (21,5,3) is seeing a reaction off our 95% resistance with good downside potential to play the drop in price. Correlation analysis: We are seeing JPY strength with AUDJPY, EURJPY and USDJPY expecting drops.
Short
by MEX_Exchange
EURJPY profit target reached perfectly, time to sell for a shortSell below 125.13. Stop loss at 125.36. Take profit at 124.63. Reason for the trading strategy (technically): Price has shot all the way up and reached our profit target perfectly. We prepare to sell below 125.13 resistance (Fibonacci extension, Elliott wave theory) for a short term setback to at least 124.63 (Fibonacci retracement, horizontal pullback support). Stochastic (55,5,3) is seeing major resistance below 99% where we expect a reaction from.
Short
by MEX_Exchange
What lies for Euro-Japanese Yen's future?For quite some days, the Euro-Japanese Yen has been solely consolidating within this range despite the further decline of other Euro Forex pair. That being said, this may be qualified to be an NR7 trade; it is also called as Narrow Range 7 day bar. With the NR7-qualified trade, we can also see a possible formation of a triple-top-double-bottom... or a possible formation of a head & shoulder... and the consolidation is just sitting at the neckline! With a tight range running, a high risk-reward ratio setup may be placed upon this! With such consolidation, I am expecting a huge move!
by bearvsbullmarket
Short EURJPY Short Term based on 30M + 1H Charts H&S Pattern I have a longter term Short setup for the EURJPY but here we see a shorter term H&S pattern setup forming for anyone interested in a shorter, possible intraday trade. Wait for a break of the neckline before entering and a more conservative approach would be to wait for a pullback and re-test, however, from experience we know this does not always happen. If you are interested in a more longer term trade, check out my related idea for a longterm short on the EURJPY with potential of around 200pips. This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Short
by AEFX786
EURJPY profit target reached. Turn bullish above major supportBuy above 124.35. Stop loss at 123.65. Take profit at 125.25. Reason for the trading strategy (technically): Price has reached our profit target from last week. We prepare to buy above 124.35 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 125.25 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) is seeing strong support above the 5% level where we expect a strong bounce from. Correlation analysis: We’re expecting overall JPY weakness with bounces expected on AUDJPY, USDJPY and EURJPY. Hence this falls very nicely into a correlated move.
Long
by MEX_Exchange
This is Crazy Man!!! EURJPY is a Buying Crap!! Don´t believe me?Crazy things happen!!! I believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or reversal. It requires attention and care. Rather than turning out to be a factory of producing signals, it is better to sit down and look for a setup. Setups are important because we are planning a trade and execute them on time. If you fail to plan a setup, then you are planning to fail. Another advantage of trade setup is that we know where to get out and the right time to go in. Know the market. Study the price movements and make your trades. My charts use price movements, patterns, structures and indicators such as moving averages and oscillators. Trading intelligence is combining multiple knowledge to produce a favorable trade setup and plans.
Short
by Dinkan