Eurjpysignal
EURJPY | Perspective for the new weekSince my last publication on this pair (see link below for reference purposes), prices have continued to spiral downwards thereby emphasizing a downtrend momentum as the JY129 area remains the significant level keeping price under. Despite hawkish ECB, the meeting might fail to offer the Euro a lift anytime soon as I suspect that the bears are about to project into the lows in the region of 124.00 area in the coming week(s).
Tendency: Downtrend (Bearish)
Structure: Supply & Demand | Trendline | Reversal pattern (Double Bottom & Breakdown)
Observation: i. Jumping in on our 4H timeframe; it is obvious that price action has continued to find lower lows since the 10th of February 2022.
ii. A visual representation of a trend after connecting a series of prices with a line drawn above pivot highs shows the prevailing direction and speed of price in the last month.
iii. The successful breakdown of the JY129 areas which has held price "supported" since the last quarter of last year emphasizes the seller's power at this juncture in the market.
iv. During the course of last week's trading session, we witness the Euro grow 3.70% against the JPY only to find a significant resistance at the key level (JY129) on Thursday and Friday with a reversal set-up emerging within an area that is peculiar with selling potentials.
v. Now, the appearance of a Double Top structure within the identified Supply zone which also shares a confluence with the bearish trend describes a potential trend continuation if we finally see a breakdown of the Neckline around JY127.5 in the new week.
vi. In as much as anywhere below key level appears to be a comfortable area to sell considering current structure, it is advisable that we hold and wait for a breakdown of neckline to join the potential decline... Trade consciously!😊
Trading plan: SELL confirmation with a minimum potential profit of 350 pips.
Risk/Reward : 1:5
Potential Duration: 4 to 8days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored... I shall be sharing a video of how I am going to take advantage of this trade if the price goes as planned on my new jou tube channel.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
EURJPY top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
EURJPY Break Major Trendline Technical indicators remain bearish. However, oversold oscillators raises scope for some pullbacks
EUR/JPY has formed a Spinning Top on the daily candle, suggesting indecision among traders.
The pair is set to remains choppy at current levels as we head into the ECB meeting. Geopolitical developments are set to remain in the driving force.
DISCLAIMER: ((trade based on your own decision ))
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EURJPY RETAIL HEARD 📉📉📉I tried to provide you in this example how not to trade and how to find high probability entries.
In this example EURJPY was longed by retail traders for two weeks for around 69% heard positions.
The lesson is very simple if the heard is LONG and tries to catch the bottom on EURJPY for example you will look only for shorts as the longs are not high probability due huge retail positions on long
What do you think ? Comment below..
EURJPY | Bounce Expected
EURJPY has been in downtrend making lower highs and lower lows. Currently price is approaching to support zone and we are expecting bounce from here. A good bullish candle with closing above the falling trendline will be enough to carry bullish momentum.
Trade your levels accordingly.
EURJPY LONGS📉📉📉📈 Expecting bullish price action on EURJPY as price takes out sell stop liquidity where a lot of retail stops where, also price takes out liquidith below the psychological area 128.000 and closed above with a high bullish momentum on H4, i see a retracement on the JPY INDEX meaning JPY should go down and EJ would go up. RSI/Stochastich Indicator are below 20 area meaning a reversal should occur because price is oversold from a mathematical standpoint. 7
What do you think ?
EURJPY | Perspective for the new weekIt has been a choppy situation for EURJPY since mid last year as the price keeps juxtaposing between JY128 and 132.5 zones to emphasize the indecision in this market. With a very simple set-up floating on my screen right now on the 4H time frame, my expectation going into the new week remains bullish considering the rejection of the JY128 level which has a strong memory for buying power (see daily and weekly time frame).
Tendency: Uptrend (Bullish)
Structure: Supply & Demand | Trendline | Reversal pattern (Breakout)
Observation: i. A visual representation of a trend after connecting a series of prices with a line drawn over pivots highs shows the prevailing direction and speed of price in the last 2 weeks.
ii. Price action came back to the JY128 level during last week's trading session and was immediately rejected resulting in the appearance of bullish engulfing candles that broke out of key level on Friday to set the tone for another possible bullish wave in the coming week(s).
iii. I look forward to the breakout of the bearish trend line to confirm the buyer's strength.
iv. The early hours/days of the new week might see a drop in price into the key level or new demand level identified around the JY129 area to incite a Trend continuation.
v. Hence, above the key level at JY129.350 remains a comfortable level to take a long position on this pair... Trade consciously!😊
Trading plan: BUY confirmation with a minimum potential profit of 300 pips.
Risk/Reward : 1:4
Potential Duration: 3 to 8days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.