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Eurjpysell

EURJPY - Short on Dovish DraghiWe have a lot of EUR news due out tomorrow together with a speech from Mario Draghi, the President of the European Central Bank. His comments alone will move the market and we are hoping for an alignment with the PMI data due out later on in the morning. This will give us a great trading opportunity on the EUR throughout the rest of the week. We are planning a short trade on the EURJPY should we see and hear dovish sentiment from Draghi. The Yen has been the stronger of the two currencies over the past week, and over the past month, and is currently sitting at resistance.
Short
by Mase_00_7
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
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
Short EURJPY Longterm Based on 4H + 1D ChartsWe recently shorted the EURJPY with great success and it is currently travelling back up to the trend line. As the current trend line is based on the 1D chart and the day is not over, it is not possible to determine exactly where the current trend line will stop and for this reason, I have made two possible entries on this trade setup. We can see the price has gone from making Higher Highs to Lower Highs and is now making Lower Lows as well, indicating that the upwards momentum is coming to an end. If price respects the trend line and bounces down, providing our 4H candle closes below the lower horizontal green line it should be a safe place to Short from. However, if the price reaches the upper resistance and is rejected, then we can enter from the higher green horizontal line providing a 4H candle closes below it. We have some support/resistances to battle through along the way and our first TP will be around 122.1 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 right on major support, time to buyBuy above 123.15. Stop loss at 122.49. Take profit at 124.15. Reason for the trading strategy (technically): Price has dropped strongly and is now testing support at 123.15 (Fibonacci extension, Fibonacci retracement, horizontal swing low support, bullish divergence) and we expect to see a strong bounce above this level to at least 124.15 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (21,5,3) is seeing strong support above 4.7% and also sees bullish divergence signalling that a bounce is impending. 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