Eurjpytrade
EURJPY may be correcting lower soon. 16.5.2021I posted an EURJPY uptrend idea before.
After reviewing the price action for the last few days, it seems like an ending diagonal is forming at around 132.8-133.2 area. If this is the case, EURJPY may enter wave (4)-yellow corrective wave, which can bring price down to 128.50.
I prefer to see an impulsive drop before entering short so lets wait and see. A break of wave (3)-yellow trend line would be indicative for the drop has begin.
After all, the uptrend is intact even after this possible correction.
Chance of a correction lower in EUR/JPYEUR/JPY can correct lower in the next couple of days after this recent rally.
Price action is slightly tilted to the bearish side now with two consecutive 4 hour candles
turning bearish.
A sell entry@ 132.60-132.85 with SL above 133.20 and TP at 131.70 could be a potential
short set-up.
EURJPY top-down analysisHi Guys, let’s make a full top-down analysis of this pair, we will take the trade if all the condition of the strategies are satisfied. Press like button to support this video and let me know in the comment section if you have any questions
Risk 1%
please do your own analysis before taking this trade.
forex | eurjpy multi timeframe analysis - long opportunityforex | eurjpy multi-timeframe analysis - long opportunity
following support and resistance strategy on the monthly and weekly chart and I expect the price will continue moving up to reach the historical resistance.
but I'm afraid of the over-bought of the RSI indicator. so I think the price will make a correction to backtest 61.8% Fibonacci and continue going up.
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