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Eurjpysignals

EURJPY | Perspective for the new week | Follow-up detailsWith over 400pips in the kitty from our last speculation on this pair (see link below for reference purposes); It appears that the correction of the Impulse leg has begun following the Breakdown of JY132.800 and JY132.300 level respectively. As the Euro runs out of steam against a potentially strong Yen from a short term perspective, the current position in the market is laced with some warning signals that proposes a near-term short position in the coming week(s). Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trendline | Reversal pattern (Head & Shoulder) Observation: i. Since mid-September 2021, the Euro recorded a 4.34% growth over the Yen to set the tone for a Bullish momentum in the long term. ii. And since hitting a peak @ JY133.500 during last week trading session, we witnessed a downward spiral that evolved into a Head & Shoulder look-a-like with an emphatic signal for a reversal. iii. Head & Shoulder: The appearance of a baseline with three peaks, where the outside two are close in height and the middle is highest reveal the possibility of the risk of a further decline in price in the coming week which could also be a correction of the Bullish momentum that began in September 2021. iv. With the recent Breakdown of the JY132.200 (a level that held price "supported" in the last 7 days) on Friday sets the pace for the Bears as confirmation of the Head & Shoulder pattern appears to be sealed! v. The early hours/days of the new week might see a price climb to test the Neckline of Reversal pattern @ JY132.300 or climb as far as JY132.800 which is within the New Supply niche identified on the chart to incite further decline. vi. Coupled with the Key level, the Bearish Trendline should serve as a yardstick to mitigate against taking an unnecessary short position in the coming week(s). vi. Please note that the Bearish narrative is believed to be a short term perspective aiming at a rejection of Neckline of the Double Bottom sighted on the Daily/Weekly time frame (see link below for previous publication in the link below for reference purposes) for a Bullish continuation hence it is appropriate that we stay on alert for unsuspecting Bullish incitation considering the facts that this is a long-term Bullish expectation ... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 180 pips. Risk/Reward : 1:5 Potential Duration: 2 to 5days 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.
Short
by darcsherry
EURJPY | Perspective for the new week | Follow-up detailsIt's been 3 weeks since my last publication on this pair and my bias remains bullish (see link below for reference purposes). Rejection of Y130.500 a couple of times at the beginning of the month (September 2021) resulted in a further decline which tested the Y128.000 zone to form a double bottom structure with hopes of Neckline Breakout in the coming week(s). Even though the currency pair was under the control of the sellers in the past two weeks, the rejection of Y128.000 for the second time in the space of 30days is a reflection that the Demand is strong at this juncture in the market. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Reversal pattern (Double Bottom & Trendline retest) Observation: i. Bearish Trendline: A visual representation of a line drawn over pivot highs revealed the prevailing direction and speed of price in the last two months. ii. With selling pressure respecting the Bearish Trendline since June 2021, the sudden Breakout of Trendline on Thursday (25th of August 2021) appears to have incited the idea that sellers are gradually losing their momentum hereby giving room for buyers to take their stance. iii. Following the rejection of Y130.500; we witness a confluence at Y128.000 (a psychological level) which is characterized by the retest of Bearish Trendline and Demand zone to evolve into a Double Bottom pattern. iv. The appearance of a Double Bottom (an extremely bullish technical reversal pattern) at this juncture in the market is a positive sign to go LONG should continue to remain above the Demand zone (Y128.000). v. Double Bottom: is a technical charting pattern that emphasizes s a change in trend and a momentum reversal from prior leading price action. vi. Y128.000 level can be identified on the chart as a significant level that has held price strongly "supported" ( Demand zone ) since March 2021 hereby giving me a conviction that another bullish momentum is right at the corner with confirmation at Breakout/Retest of Neckline @ Y130.500. vii. In this regard, I have identified a Key level @ Y129.000 to be a yardstick for opportunities in the coming week(s) as anywhere below this level negates the narratives. viii. For those with an extremely cautious approach to trading, a Breakout/Retest of Neckline @ Y130.500 should be the most appropriate confirmation to join the potential rally... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 350 pips. Risk/Reward : 1:5 Potential Duration: 12 to 20 days 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.
Long
by darcsherry
EURJPY | Perspective for the new week | Follow-up detailsWith over 400pips move in our direction since my last publication (see link below for reference purposes); The selling pressure surrounding the Japanese yen continues to increase in the latter part of last week trading session and It appears that the Euro has finally found support at Y128.000 with a high probability of a Bullish momentum in the coming week(s). Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Trendline Observation: i. The Euro remains extremely Bullish from the long term perspective (see weekly chart). ii. Since hitting a peak @ Y134.000, the bears have been dominating the EURJPY market for the last couple of months (since June 2021). iii. Bearish Trendline: A visual representation of a line drawn over pivot highs revealed the prevailing direction and speed of price in the last two months. iv. With selling pressure respecting the Bearish Trendline since June 2021, the sudden Breakout of Trendline on Thursday (25th of August 2021) which also shares a confluence with the Key level @Y129.000 may have incited the idea that seller has finally lost their momentum hereby giving room for buyers to take their stance. v. Y128.000 level can be identified on the chart as a significant level that has held price strongly "supported" (Demand zone) since March 2021 hereby giving me a conviction that another bullish momentum is right at the corner. vi. In this regard, I am ready to join the rally in the coming week as long as the price remains above the Key level @ Y129.000 (psychological level). vii. Another opportunity to add to our existing position shall arise as soon as price breakout/retest Y130.700... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 350 pips. Risk/Reward : 1:5 Potential Duration: 10 to 20days 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.
Long
by darcsherry
EURJPY | Perspective for the new week | Follow-upJust like the situation on our GBPUSD, we experienced a 300pips move in our direction since my last publication on this pair (see link below for reference purposes) and with the present market structure, it appears we are at another juncture that "screams" for a selling opportunity. Even as a momentary price increase is envisaged on this pair considering the pressure from the bulls during last week trading session and this might lead to a break out into Y132.500/133.000 level before a decline happens. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Trendline Observation: i. Even as we are in a long term Bullish situation, "quick sells" from participants who took advantage of the Bullish run appears to be happening at the moment and I suspect that the price might decline to around the Y129.000 area before the rally begins... Why? ii. The significant Breakdown of Y132.350 (my new Key level/Trendline) on the 17th of June 2021 which appears to be followed by what looks like "rejections" of this same level between 23rd and 25th of June 2021 points at the possibility of diminishing Bullish momentum. iii. While looking forward to entry opportunity below Key level, I foresee a transition into a Harmonic pattern (AB = CD) in the coming week with parameters explained below; a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg currently falls at 61.8% with the potentials of extending to 78.6% Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext . of the A-to-B @ Y129.000 area. iv. A Further plunge below Y131.000 (breakdown/retest) might welcome an addition to the existing position. v. CAUTION: It is important that I state here that the overall perspective to this pair is Bullish (see weekly chart) and if the price remains above Key level, the whole narrative shall be rendered invalid and a Bullish perspective shall be immediately adopted at Break above/Retest of Trendline... Trade consciously! 😊 Trading plan: SELL confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:5 Potential Duration: 5 to 10days 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.
Short
by darcsherry
EURJPY | Perspective for the new weekWe were unable to open a Bearish position in my last publication on this pair as the price continued to find a higher level ( see link below for reference purposes) but the current structure transposing into a Head & Shoulder - a strong reversal pattern suggests that the bears might lead to further decrease in price in the meantime. Tendency: Downtrend (Bearish) Structure: Reversal pattern (H & S) | Supply & Demand Observation: i. It is obvious that the price has continued to climb high for the Euro since the beginning of the year 2021 and it appears to be at a juncture where we might consider the beginning of a temporary correction after observing the appearance of a Head & Shoulder pattern. ii. Head & Shoulder: A baseline with three peaks; the outside two are close in height and the middle is highest describes a specific formation that predicts a bullish-to-bearish trend reversal. iii. The later part of last week witnessed price breaking down Y132.800, a level which held price "Supported" (Demand zone) in the last 17days with clues suggesting a risk of further decline in the nearest future. iv. In this regard, I have identified a niche for selling opportunity around Y133.400/133.000 should the price climb up early in the new week. v. Below Key level II @ Y132.800 might be a level for conscious trading as price running below the Neckline gives succour for Bearish momentum... Trade consciously! 😊 Trading plan: SELL confirmation with a minimum potential profit of 100 pips. Risk/Reward : 1:3 Potential Duration: 3 to 7 days 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.
Short
by darcsherry
EURJPY | Short Term Perspective for the new weekWe enjoyed a 150pips run in our last publication before the price began to find higher highs (see link below for reference purposes) which topped @ Y133.4ish during last week trading session. Even as the EURJPY appears Bullish on the long-term outlook, the break below Key level @ Y132.800 which also serves as the Neckline of the Double Top structure signals a risk of further decline (a decline which may be considered temporary and in anticipation of a future rally) into Bullish Trendline indicated on the Daily chart (see chart below) for the Euro in the coming week(s). In this regard, I shall be hoping to take a short term counter trend opportunity when the signal is duly confirmed! Tendency: Temporary Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Reversal pattern (Double Top) Observation: i. Since the successful break above Y132.800 on the 14th of May 2021, the price found a niche and remain "supported" above this level in the past week. ii. The appearance of a Double Top which can be considered an extremely bearish technical reversal pattern forming after the price reached a peak @ Y133.400 two consecutive times with a moderate decline between the two highs signals a potential decline in price in the coming week. iii. The Breakdown of Bullish Trendline which also coincides with Breakdown of Neckline @ Y132.800 during the early hours on Friday appears to be a strong indication that supports a build in momentum for the Bears. iv. With a new Supply level identified on the chart at around Y132.7000/133.000; the retest of Key level (Neckline) @ Y132.800 shall be my yardstick for selling opportunity in the coming week(s). v. I suspect a Correction move of the Bullish run that was initiated on the 22nd of April 2021 (see Daily chart below) is about, to begin with, the aim of testing the Bullish Trendline (see Daily chart below) with high anticipation of a rally continuation in the nearest future... Trade consciously! Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:6 Potential Duration: 4 to 10 days 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 foreign exchange trading, CFDs, 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.
Short
by darcsherry
EURJPY | Perspective for the new week | Follow-upThe price continues to hover around our previous Supplication area (see link below for reference purposes); The Euro has been unable to sustain its move to a new high following price inability to Break above the Y130.600 area. After culminating @ Y130.680, a Double Top pattern emerges with tendencies that support the beginning of a Corrective phase. We finally experience a Breakdown of Ascending channel during last week trading session a sign that the price no longer respects the Channel. I am of the opinion that this sudden Breakdown might be a Temporary dimension to price action (Corrective phase) in anticipation of a rally continuation in the nearest future. Tendency: Temporary Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Double Top (Reversal pattern) | Ascending Channel Observation: i. EURJPY appears to be bullish from the perspective of a long-term outlook; Price has respected the Ascending Channel since late January 2021. ii. The Breakdown of the Neckline coinciding with a breakdown of the Channel is a signal that Buyers have lost their momentum and a new direction is evolving. iii. In the last 17days, Y129.750 has been a significant area as a Breakdown/Breakout of this area has dictated the prevailing direction of price action. iv. The Neckline @ Y129.750 shall be my Key level in the coming week(s) as I anticipate a correction (retest) after the Breakdown that happened last week to join the decline train. iv. This been said, after completion of the correction of the Breakdown in the coming week(s); any area below Key level will be good for me to join the decline train. Trade consciously :)! Trading plan: SELL confirmation with a minimum potential profit of 170 pips. Risk/Reward : 1:4 Potential Duration: 4 to 10days 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 foreign exchange trading, CFDs, 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.
Short
by darcsherry
EURJPY | Perspective for the new weekThrusting out of our previous Demand level @ Y126.4, the price moved over 150pips in our direction since my last publication (see link below for reference purposes). Since the Breakout of the Y122.000 level mid last year, the price has continued to find Higher Highs with impressions that support LONG positions from all perspective. It is also very obvious that Key level @ Y125.000 as been a major determinant of price in the last 8 months (since July 2020) as the price continues to remain "Supported". Tendency: Temporary Downtrend followed by Uptrend ( Bullish ) Structure: Correction wave | Breakout | Supply & Demand | Harmonic (AB = CD) Observation: i. Following the correction into Y122.000, price have remained bullish. ii. Since the successful Breakout of Key level @ Y125.000 in December 2020, Buyers have continued to retain price above level hereby confirming the Buying power at this juncture in the market. ii. Completion of a Harmonic pattern (AB = CD) might see price do a temporary decline from Y129.000 area (supplication area), a set-up characterized by "quick sells" (Correction move) from participants who took advantage of the rally from Y122 level to recover some profit before the anticipated rally. iii. It is worthy to note that the Y126.000/124.000 zone has a prospect of becoming a very good Demand level in the nearest future. Trade consciously :) Trading plan: SELL/BUY confirmation with a minimum potential profit of 500 pips. Risk/Reward : 1:3 Potential Duration: 7 to 15 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, 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.
Long
by darcsherry
6
EURJPY | Perspective for the new weekSince my last publication on this pair (see link below), it appears the Resistance level @ Y126.620 is not holding as price finally breaks out of this level last week to find a new Support level (Demand zone). Despite Europe having a lead over Japan when it comes to vaccination; The unfolding Covid-19 situation and other global events might have its toll on this pair in the coming week as both the European and Japan economy continues to struggle to contain the Covid-19 pandemic. Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand | Channel Observation: i. Since December 2020, price action has been caught within a channel of Supply and Demand ranging between Y126.000/127.000. ii. A breakout of this channel last week sets a new tone to the trend and might be the continuation of the rally that has gripped this pair since mid-last year. iii. In the coming week, I shall be looking out for a possible correction which might deep into Y126.400/127.000 area for an opportunity to go long. Trading plan: BUY confirmation with a minimum potential profit of 140 pips. Risk/Reward : 1:4.5 Potential Duration: 3 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, 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.
Long
by darcsherry
5
EURJPY | Perspective for the new weekAs the bulls are trying to break up the resistance level of Y126.620, price is caught in Double Top situation where a reversal is possible in the coming week(s). Tendency: Downtrend ( Bearish ) Structure: Double Top | Supply & Demand Observation: i. Since the beginning of the month, buyers have found it difficult to push the price beyond Y126.620 with a second attempt culminating with a sharp rejection of this level on Friday. ii. Price is presently within a significant zone (Y126.500 & Y127.000) - a Key level from the perspective of our weekly chart. iii. Double Top: The appearance of an extremely bearish technical reversal pattern forming after price reached Y126.600 two consecutive times with a moderate decline between the two highs is a harbinger to Sell for me! iv. However, it is important to note here that I shall be looking out for a Breakdown of the Y126.00 level for sell confirmation in the coming week. v. This been said, a Breakout of level Y127.000 with significant candles will disregard this bias and a shift in perspective for a rally will emerge. Trading plan: SEL confirmation with a minimum potential profit of 150 pips. Risk/Reward: 1:3 Potential Duration: 4 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, 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.
Short
by darcsherry
EURJPY - SELL NowYes you heard it right. There is a strong support at 121.381 and price will be retrace from this place to downwards. Its in overbought situation and upper bollinger band also touching the candles means confirming the overbought situation and price will be retracing from there. interesting this is "W" pattern was formed and bearish movement is confirmed. Note: Trade at your own risk. We are providing free forex signals. You can join clicking below telegram link or comment your telegram username we will add you there. Join with us for free signals Telegram - t.me Facebook - www.facebook.com Twitter - twitter.com Website - www.forexcaction.com
Short
by Forexcation-Investing-lk