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Eurjpytrade

EURJPY | Use the Pull Back to get in.When it comes to EURJPY , a while ago, we've seen a strong impulse to the downside. And got rejected from a previous resistance area, which is now acting as support. Looks like we don't have any resistance till T1. I think T1 area is also a tad weak; so there is a good chance price might break T1 and move towards T2. So you should be cautious when price reaches T1. If price breaches T1 then you could keep the position till T2. If not, make sure to close the half of your position. If you are going long, please make sure to place stop below the previous support area. And only buy when you get a pull back. If you find this technical analysis useful, please like & share our ideas with the community. What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis. Good Luck! Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Long
by maxprofwizard
EUR/JPY--- ATTEMPTING Y133 LEVELThe euro has had a very strong week against the Japanese yen, closing near the ¥131 level. It now appears that the Japanese yen itself is in trouble so this could continue going forward, at least into this week. At this point, I would not be surprised at all to see this market make a serious attempt to get to the ¥133 level, especially if we end up having more of a “risk on week”, which I do think will probably be the case as traders put money back to work after the holidays.
Long
by SmoothJB
1
EurJpy can drop 500 pipsTwo days ago I said that EurJpy could correct some and reach 130 zone. However, the pair looks very weak and seems like a break of support is imminent. Looking at a longer TF, we can see that the pair has formed a very large double top starting from April, and a break here would confirm the pattern. I'm bearish this pair and I think that the 500 pips target from the double top will be reached in medium term. Sell rallies can be a good strategy and EurJpy above 130 would negate this scenario
Short
by Mihai_Iacob
2
Short EURJPY 06 Dec, 2021The support at 128.00 has been broken and then re-tested. The H4 view shows that the bears still have the upper hand but I feel that 128.00 will be seen again before the bearish move resumes. Note also that price has been below the 200 DMA and that by itself is a bearish sign. An entry at / just before 128.00 would permit a small stop loss and my target would be above 125.20 - a nice 4R trade opportunity. If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications. Always use sound money and risk management in all your trades.
Short
by Trading_Vista