EurJpy outlookAfter breaking down the rising wedge, EurJpy dropped and found support as expected above 123 zone (horizontal support and beginning of the wedge).
I expect a bull move from this point and 124.50 could be the target
Eurjpytrade
EUR/JPY Technical Analysis
The counter has made a retest of the broken head and shoulder neckline.
It has made the retracement in the form of a bearish flag and has broken down from it.
Further, it has crossed critical support of 123.9 and hence we expect the pair to be bearish in the short-term.
EURJPY - Flight 125.45I and the team have entered a buy position on EURJPY with an upside target around the region of 125.45. We have a key demand level marked out that we are beginning to see signs of reaction from, lets see if the EUR can pick up its speed and get back to the dominating bullish trend it was once on.
COT Data - 61% Short
IG Client Sentiment - 38% Long
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- I remain bearishOn Friday's commentary, I draw attention to a rising wedge visible on both H4 and H1 charts for EurJpy.
Now the trend line support of the pattern is broken and I expect a continuation to at least 123 zone.
The pair is trading at the time of writing in support and a small corrective rally is not out of the question.
This rally can provide bears a good opportunity to sell with a mentioned target and a SL above 125.50
EUR/JPY SELL 📉👋 Hello and welcome traders to another trade idea with Fobian
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👉 WE have sell conformation:
- Triangle formation and the candle close out of triangle.
- MACD give us SELL signal.
- Candle close below ASIAN session.
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UPDATE: EURJPY did not manage to break out... BEARISH outlook!!!Just a quick update from my previous EURJPY. By looking at today's price movement, we can see that EURJPY did not successfully breakout 124.75, with current price level holding 124.75 as a strong resistance level. No retest was seen when price moved out of 124.75 instead looks more like a fakeout. I am seeing a good risk to reward short opportunity down to 122+ price level (strong support level). BULLISH movement may come to a stop from here. Identified the level where a retest may occur before the fall.
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📢EUR/JPY Short setup approaching 👍👍Hello fellow traders. I'm looking at a short setup here. Once the 4H candle can close I'll be monitoring price action on smaller timeframes foe an entry 🧐 If you like the Analysis feel free to drop a like and leave comment, we are grateful for all the love out there 🤍
EurJpy- Back to 123.00?The rise from 122.50 is corrective in a ABCD pattern where D leg is a rising wedge which gives me reasons to think that EurJpy is ready for a drop.
I will try to sell rallies above 125 figure with a SL around 126 and a TP at 123 zone
Trade Update: Sell 25-50% and move stop to 123.33
Real-Time Algorithmic Trading Signals. Stay curious
EURJPY Once again, market will always leave clues as to what it wants to do, I do not predict the market but my bias would be for a sell position seeing the price action clues on weekly and daily.
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Past results does not Guarantee Future Results, do your due diligence.
Trade Rules:
Use proper risk management
When the trade is taken, once in 20 pips profit, breakeven and protect your capital
As trade moves, look for fresh entries in line with the position taken
EJ Analysis 04/10/2020 -- UpdateI had already highlighted that for buys to be valid, price needed to break resistance and form a support.
Price did exactly this and as support was formed, I looked for confirmations to enter buys. When the bullish 15m candle broke the high of the previous 15m candle which was our formation of support, I entered the trade.
My stops were below the current 30m candle and I secured profits and left stops at BE when the zone highlighted as a potential barrier for price to break through was tapped.
I left half of my position open and closed 90% of that at the 100 pip mark, with my final runner eventually getting stopped out at 98 pips profit.
This is an example of trailing stop loss, every so often I moved my SL further into profit following market structure.
The risk reward on this trade was 18.36 and price moved beautifully with no bumps along the way.
EUR/JPY TO 124.425Fib 50.00% retest , which correlates with daily support. -61.8% fib roughly correlates with swing point.
EJ Analysis 04/10/2020We are currently trading in a 30 pip range.
1) If we close above 123.475, look for support to form on lower timeframes before executing buys to fill the range up to 123.800, I have highlighted a potential barrier.
2) If we close below 123.175, we can look to target the next support down at 122.950, and if Asian volume pushed price down maybe even target 122.550. For sells to be valid we need a break of 123.175, and resistance to form on lower timeframes
Buys are looking good now however.
Daily Update__ Sell__ EUR/JPY-- W1Disclaimer:
the content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions. this is not signal. it's my opinion. trade your own risk. and Must Follow Money management.
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EURJPY - Outlook 4 October 2020 - Sellers are getting ready?Hi all traders,
This is a video analysis on eurjpy.
Do take note of the levels for eurjpy. Im not expecting any big moves from this pair yet.
So please be patient on this pair trading.. For now do not aim for big pips first for eurjpy.
Take the trades based on the levels i have advise you in the video.
Cheers and thank you!
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EJ Analysis 29/09/2020 -- Update 2Price broke through support on the 30m timeframe, as we retested the broken support we took a sell entry, price hit our target and we moved our stops to BE and let a runner run, the runner ran for 30 pips before we closed our trade as support formed on the 30m timeframe.
