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EURJPY possiblr rangeA possible trade set up for EURJPY. i believe there is further downside available in EJ, mainly because of the impeachment trial in the U.S starting next wee,k which may help boost demand for safe haven assets. the bounce could coincide with the lighter than usual trading volume in the U.S Monday because of the holiday. We also have the BOJ rate decision Monday evening and press conference that may weaken the yen, in my opinion, as I don't expect the BOJ to be hawkish. Moving forward we have the trial beginning on Tuesday and paired with the return of volume we may see a continuation of the drop which would coincide with an ABC correction in the near term. From there it becomes a bit more difficult as we come into a demand zone and longer time frame trend line. A break below the trend line and a daily close below it certainly suggest further downs side is possible. Any time price is over 122.50 it is bullish in my opinion, but there may be near term resistance in 123.25 area that pushes price down slightly to retest the 122.50 area; before continuing up in an attempt to close the gap. I see a strong resistance area up top so any over shoot of the gap may be contested . not trading advice. just my perspective. happy trading
Short
by Entrenched
6
EURJPY SHORT IDEAAfter the liquidity spike we saw on the daily we can now see the market is shifting in to bearish market on lower time frames. However overall the market is still bullish on Higher time frames. Price has already retraced and rejected the 78.6 fibbo level since then we have created a head&shoulder pattern for extra confluence to support my short idea. I’m now looking to see if we can print a new lower high to test the neckline of the H&S. I’ll monitor price action for confirmation. So far looks good to me as if you look at the daily you can see the candle stick formation is bearish.
Short
by waynetrades94
EURJPY 240MHello traders! This trade is in play, 1st of the week. There is a 40 pip target between lines C and D, although my current target is set at 80 pips from the C line because price is coming off a three point decline from line A. I will take full or partial off at the C line if price reaches the 1st target. This trade can also be taken with a sell stop order as a set&forget setup. It`s recommended to position stop no further away than 1:1 RR away from entry, although this may vary with markets and volatility. Best, Jay
Short
by TrapReversalTrading
EURJPY on my watch listThis pair looks to possibly be setting up for a good short position. # Support broken and # Possibly tested as resistance # Fibonacci 61.8% retracement level could come into play # Price action will confirm To receive live updates in real time feel free to join Forex Bootcamp using the Telegram link below. Keen to learn to trade using pure price action? You can join my mailing list (via www.profitfxza.com) to learn how you can access The Complete Price Action Trading Course and learn to trade profitably. No hype, no fluff, just pure trading!
by Cmasterza
1