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Eurjpytrade

EURJPY looks poised for another 200 pips in MayWith this month ending in a few days, I'm preparing for May. The yen looks the most definitive heading into may, and it looks bearish overall, with that in mind, combined with EUR strength, EURJPY should rise. When we look at structure you can see that we have what I will call "never ending exhaustion" EURJPY, looks like its getting tired, but it just keeps going up in a ugly fashion. I hate this type of behavior to be honest lol. I think the next logical price we see actual sell momentum step in is at the green prices, or just above them. Until then I'll be watching the H1 and H4 for buy opportunities. The way we tested the prior point of control tells me the banks added more buying positions, and will continue for the next week or two. You don't need to predict the next 4 moves in the market to make money. You just need high probability. EURJPY looks highly probable for 150-200 pips, now just drop down on the smaller charts and pick it apart until those pips get eaten. Logic: Institutions need to close positions at the red line. Green lines are where possible retail buy limits are sitting. Good luck, -Gio
by elevatedinvestor
** EURJPY ** currently in drawdown lets see how this one goes.Hi all, hope you all had a great weekend and ready for a fresh week on the charts. The entry price, stop loss (in pipettes) and take profit are shown on the chart itself. Just something I'm working on in Pine script, I'll share as many trading ideas as and when I can, so I can document my progress. My name is Al, I'm 40 and from the UK. I've been trading for a few years, my key goal is to automate my strategies and remove as many decisions as I can. Any questions, feel free to drop me a direct message if I can help. These ideas, aren't specific advice from me - so if you enter, of course do your own due diligence - always manage your risk like a pro too. This is all for information and education. Have a great day, Al. 🙂 PS. Check my other 'Related Ideas' too.
Short
by AL-1-
EURJPY - SHORT; SELL the Monthly Resistance here! ......despite the heavy docket next week. (BoJ rate decision, EU data dump, etc.) The upcoming data has a virtually zero chance to fundamentally alter the overall picture, either for the EU or for the BoJ. Much more importantly, technically this is a solid SHORT Entry here with low risk. (Despite the likely volatility.) If the trade is wrong, you'll know it right away. Note: This post also serves as a replacement/update for the previous EURJPY post which was erroneously updated, earlier last week. (See attached)
Short
by Nemo_Confidat
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