Eurjpytrade
EURJPY - Analysis Breakdown Welcome traders to a free analysis breakdown.
Today I am highlighting possible trade ares on EURJPY, if you any questions on the pair let me know in the comment section below.
Once the pair gives us a valid trade entry I will be sharing the trade with the Alpha community, I hope you all found this breakdown helpful .
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EURJPY - Entry point Who didn't buy it now is a great opportunity to buy it.
part is fixed. Part is left to continue.
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EurJpy- I maintain my 130 targetFor almost 2 weeks now, EurJpy is consolidating gains just under important horizontal and long-term trend line resistance.
As I said before, I expect a new leg up from this pair and 130 zone is my target.
125.50 zone should be very well defended by bulls and a break above consolidation should bring continuation and confirmation
EURJPYUpdate to my previous chartwork: I believe the overall trend for this pair is bullish bias, however there will be be a moderate retracement below the 125 handle. I left out indicators as I trade purely based off naked charts/candlestick analysis more often these days as they've been playing up to par.
Short EURJPY - Testing important monthly resistance areaShort EURJPY - Testing important monthly resistance area
- Trading on top-end of long-term symmetrical triangle pattern in monthly chart
- JPY is gaining momentum
- Stochastics is overextended and is in overbought territory
- RSI looks weak and is hovering around the 50 level with consistent lower highs.
Entry: 126.20
Stop loss: 127.4 (120 pips)
Target: 124 (220 pips)
EurJpy- consolidation in descending trendlineAs I said yesterday I expect EurJpy to continue higher.
As we can see from the daily chart the pair is consolidating for 7 trading days now just under this important and definitory resistance and in my opinion, we will have a break to the upside.
125 is very strong support now and 125.50 zone should hold for the bulls to be in total control
EurJpy- Can break above 127In my last EurJpy, I said that I expect 125 resistance to be broken and the price to reach 127 zone. This happened and we may ask, now what?
As we can see from the chart, the impulse for EurJpy is strong and although we have a normal correction from 127 zone, this is forming a flag.
I expect the bulls to defend 126 zone and eventually EurJpy to break above 127.
Also, a break above 127 would be a signal for a long term change of trend.
P.S: UsdJpy looks like will go above 105 and also EurUsd is in a strong uptrend on the medium-term, so would mean a perfect situation for buying EurJpy
EURJPY - SELL OPPORTUNITYSELL EXECUTION of EURJPY in SELL AREA 1 / SELL AREA 2, Looking to close position in TARGET AREAS (+30 PIPS)
- TARGET AREA 1 - 30 PIPS
- TARGET AREA 2 - 50 PIPS
- TARGET AREA 3 (LONGTERM) - 140 PIPS (Price Area 125)
Trade at your risk!!!
EUR/JPY Wave Analysis
The counter is currently in a short-term bull cycle.
It is now in a consolidation phase which could be termed as wave 4.
We expect the pair to surge to the high to complete wave 5.
EURJPY, daily tf, sell on strong resistanceHello my friends,
As you can see there is an inverted head and shoulders pattern in this pair.
Price broken above the neckline and continue to shoot up without retesting those neckline.
In my opinion, this impulsive movement will soon exhaust and get a correction because price just shoot above the neckline without retesting it.
After marking our horizontal level support and resistance, we could start trading between those zones.
Right now i think, price pretty much overbought and exhausted.
It is shown by previous daily candle which was rejected from 126.45-126.75 resistance area.
I think it is about time price retrace to retest those neckline at 125.00 area.
I am going to sell this pair in order to capitalize this retracement.
Sell EURJPY 126.45
Stop loss 126.85
Take profit 125.05 (3.5R)
RR ratio 1 : 3.5
Use only 1-2% risk
Good luck
EURJPY - The completion of the first uptrend from point iiiIn continuation of the analysis for this currency, and in the chart of 240 -minutes, the price has been able to reach the range of 126.65 with 5 ascending waves. Also, it has entered the corrective phase of this uptrend. Since the price is located in wave iii and from its sub-waves located in 2nd wave, we may probably encounter a short corrective movement and then the uptrend in 3rd wave. The intended range to complete this correction is 125.75 to 125.20, if it crosses the range, it can be extended up to the range of 124.30. As it can be seen in the picture, the range of 122.84 is a very important range, by crossing this range, we should think of the uptrend doubtfully.
4HR Analysis for EURJPYI believe the overall trend for this pair is bullish bias, however there will be be a moderate retracement to and below the 124 handle. I'll keep it short on this post and let the audience do some digging on my chartwork to see if it makes sense. I based this chartwork solely off pure market movement and left out indicators. Please feel free to ask me any questions.
EurJpu- to break above 125- 200 pips possible tradeThe drop from 127 to 122 is clearly corrective in nature and, after finding strong support at 122, the EurJpy has risen in a constructive way.
Now the pair is trading just under 125 important resistance and neckline of an H&S and I think a break up is inevitable.
That being said my strategy for this pair is buying dips and 127 could be a reasonable target.
EURJPY BUY Trade Idea. EURJPY BUY Trade Idea.
Please manage your risk. Use Stop loss. And do not take blind entries.
If you have a question let me know. If you want to analyze any pair let me know.
This is just an idea. What we see.
The Market can go in the opposite direction, what we analyze. So we have to manage our risk and adopt the situation accordingly.
EurJpy- Near important support, I favor longsAfter finding local support in 121.50 zone, EurJpy rose quickly to 125 resistance where it found strong asks.
Now the pair is correcting this up move and is near 122.50 important support.
I favor long trades and a buy trade in this zone can have a more than 1:2 R:R
EURJPY 60 PIP SELLEURJPY showing great potential for a 60 PIP short. At the moment EURJPY is forming a flag pattern following from a strong bullish momentum. Price has reacted well within the pattern and i believe will find support for the third time before continuing its way up. Recently we have seen a rejection of the top trend line as well as an oversold condition on the RSI(10), with these factors combined it may allow price to have enough momentum to find support once more at the bottom trend line, hence why my TP is set at this point. Furthermore before forming new higher highs price may want to retest the neck line of the double top formed recently back in October. The intersection of both the bottom of this flag and this strong support zone is where i think price will test before continuing its way up allowing it to push for new higher highs. With a flag pattern like this before a strong bullish momentum we are most likely going to see it break to the upside. We currently dont have anything as of yet on the 200 EMA however if price breaks this i believe will further give it momentum to hit my target. TP is set at 60 PIPs and SL at 35 Pips
EUR JPY - NOV 15 -20 KEY LEVELSEUR JPY - NOV 15 -20 KEY LEVELS
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You can see how price hit my blue resistance zone perfectly then bears pushed price down 140 pips, and you can see where i am expecting price to be pushed down to, my yellow support zone which is 75 pips away as i am looking for it to hit 123.000.
When price hits 123.000 i will be looking to see how price reacts around that level as a break and retest of this level as resistance would produce more downside moves or a bounce from this support would produce more upside moves. Again you must be patient!
If you have any questions or want to know more about the way i trade then please just message me.
