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Eurjpyprediction

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
EUR/JPY To 127.00 First target Then 128.00 OverallMonthly - we can see some reasonably bullish price action with the MA's converging to cross. Showing a longer term bullish direction Weekly - It's the first time in around 12 months that the weekly price action has managed to close above 124.00. Price action is above the MA's; which are crossed to the upside. Daily - We have had a morning star formation at 124.00 - indicating that the price did not like being below 124.00. The bottom of the morning star also touches a 61% Fibonacci retracement. I have 3 Fib's on this pair, one monthly, one long term daily/weekly and the one you can see on this 4hrly chart. The two shorter term fibs both give a D1 extension around the 127.00 area - the reasons behind my first target on this pair. The longer term monthly fib has a target a lot higher, but it just gives me an added bullish conlfuence to the pair. I am looking for a long entry on this pair, using the indicated CTL for an extra reason for going long. I have indicated what I think could possibly happen (see the arrows on the chart) with a pullback and another bounce of the 124.00 level before continuation to the upside. If this does happen it would be a bonus giving us a better risk:reward ratio. I will update when the market opens.
Long
by buykinisuk
2
EURJPY Uptrend Start, or retracement for downtrend continuationNot a setup, but a downtrend continuation prediction is what I have in mind. Price could follow the uptrendline, to continue up as Fibonacci tool predicts where it will lead to, while 117.7 hit 61.8% & may be enough to continue downtrend with Traders Dynamic Index indication of reversal from an uptrend start. Or price to move up according to its minor fibonacci lines 61.8% to 119.6, being, still at a red zone of the major fibonacci, allowing a turning point in the future to continue down if other conditions necessary continue to be met at that time.
Short
by YardleyRosette
EURJPY Long TradeToday’s trading idea is coming from EURJPY. I have been waiting for a price action setup, which has finally come. As discussed with one of my followers (Dan) in the comments section, I finally had a confirmation from price. If you look at the daily chart of the EURJPY, you will find out that there is a pin bar, which is forming on the support level of 118.00. It seems to me, the time is ripe for a long entry now. I will be looking to place my stop-loss just below 117.00. My first price target is the level of 119.500. My next target (depending on price action) is the level of 123.000.
Long
by colibritrader