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Eurjpysell

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
EURJPY testing major support, remain bullishBuy above 124.18. Stop loss at 123.62. Take profit at 125.24. Reason for the trading strategy (technically): Price is now testing our major support. We remain bullish looking to buy above major support at 124.18 (Fibonacci retracement, horizontal overlap support, bullish divergence) 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 and also sees bullish divergence signalling that a bounce is impending. Correlation analysis: We’re expecting overall JPY weakness with bounces expected on USDJPY and EURJPY. Hence this falls very nicely into a correlated move.
Long
by MEX_Exchange
Short EURJPY Longterm Based on 30M + 4H ChartsWe saw a bullish EMA crossover (Golden Cross) occur on the 26th of April 2017 on the 4H chart and price has respected this crossover and has been riding above it, making higher highs. However, in recent weeks we've seen progression slow down and we have made our first Lower High as the uptrend begins to curve round to the downside. Price has also fallen below the EMA50 and is heading towards our first price target of 123.158 which would make it's first Lower Low. On the 30M chart we can see the EMA50 has now crossed below the EMA200 (Death Cross) and with strong divergence to the downside, this would support our decision to short the EURJPY pair. Place your stop at 124.695 and price targets of 123.158 but we're not setting a TP, we will let this run and adjust our stop accordingly to secure profits. 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
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EURJPY approaching major resistance, prepare to sellSell below 125.80. Stop loss at 126.13. Take profit at 124.60. Reason for the trading strategy (technically): Price is approaching major resistance at 125.80 (Fibonacci extension, horizontal swing high resistance) and we expect a strong reaction off this level for a drop to at least 124.60 support (Fibonacci retracement, horizontal overlap support). Stochastic (55,5,3) is seeing major resistance below the 96% level where we expect a drop from. Correlation analysis: We’re expecting overall JPY strength today with drops expected on USDJPY and EURJPY.
Short
by MEX_Exchange
EURJPY approaching strong resistance, prepare to sellSell below 124.62. Stop loss at 125.21. Take profit at 123.19. Reason for the trading strategy (technically): Price is approaching strong resistance at 124.62 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) and we expect a drop from this level to at least 123.19 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below the 94% level where we expect a strong drop from. Correlation analysis: AUDJPY and USDJPY are expecting bounces. So we have to exercise caution on this trade.
Short
by MEX_Exchange