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Eurjpyprediction

EURJPY right below major resistance, prepare to sell Sell below 136.09. Stop loss at 136.38. Take profit at 134.84. Reason for the trading strategy (technically): Price is testing major resistance below 136.09 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, bearish divergence) and a drop could soon occur at this level. Our conviction for a drop would be greatly increased once our ascending support line is broken. Stochastic (34,5,3) sees major resistance below 95% and also strong bearish divergence vs price signals that a reversal is impending.
Short
by MEX_Exchange
EURJPY continues to test major resistance, lining up a potential EURJPY continues to test major resistance at 135.95 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong drop could occur from this level to push price down towards 134.55 support (Fibonacci retracement, horizontal pullback support). Stochastic (55,5,3) is seeing major resistance at 98% and has some good downside potential to go for our bearish move. We are also seeing a pullback to our 77% resistance level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
EURJPY testing major resistance, potential reversal!EURJPY is testing major resistance at 135.95 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong drop could occur from this level to push price down towards 134.55 support (Fibonacci retracement, horizontal pullback support). Stochastic (55,5,3) is seeing major resistance at 98% and has some good downside potential to go for our bearish move. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
EURJPY seeing nicely support, prepare to buyBuy above 133.83. Stop loss at 133.39. Take profit at 134.81. Reason for the trading strategy (technically): Price is starting to bounce nicely off 133.83 support (Fibonacci retracement, horizontal overlap support, bullish price action) and we expect to see a strong bounce above this level to push price up to at least 123.81 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,3,1) is seeing strong support above 6.1% where a corresponding bounce is expected.
Long
by MEX_Exchange
2
EURJPY H4 *Potential Head & Shoulders Pattern*Currently have what looks like a retracement on the downtrend with EURJPY , up to the 50% zone. It is also sitting around a support / resistance at this level too, there is the potential for a head and shoulders pattern to complete, with indicators showing the bull power slowly running out. This could start the final leg of the right shoulder. I will be waiting for a break of the neckline and re-assess how it looks then, if it is all good then I could short down to the supply / demand zone which has been proven to be a strong turning point for this pair over the past few weeks. NFP today to so it could blow everything out of the water!
Short
by JordanWillson
EURJPY H4 *Possible Head & Shoulders*We have a potential Head and Shoulders pattern forming on this pair, with the right shoulder forming and ending at around the monthly support of 131.000 level. This would coincide with a large demand area for the pair to then turn bullish and begin climbing to the upside. If it breaks the daily pivot level of 132.665 and closes under it I will look at shorting this down to the 131.000 psychological level. Then look at potentially a long if the pattern completes.
Short
by JordanWillson
EURJPY profit target reached perfectly, prepare to sellSell below 132.27. Stop loss at 132.67. Take profit at 131.19. Reason for the trading strategy (technically): Price is approaching major resistance at 132.27 (Fibonacci retracement, horizontal swing high resistance) and we expect to see a strong reaction off this level for price to resume its drop towards 131.19 support (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is seeing major resistance at 97% where we expect a corresponding reaction from.
Short
by MEX_Exchange
3