EUR/JPY could DROP NOW!Hey tradomanias,
looking at correlations, EUR/USD and JXY aswell as the current risk-off-tone in the stockmarket it is likely to see EUR/JPY going down after the fakeout above a key-resistance.
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EJ Analysis 29/09/2020We are currently trading in a 15 pip range. If we break resistance, and form support on lower timeframes, buys could be valid up to the next form of resistance as there is a 15 pip range to target, however I have highlighted a zone we need to watch with caution as it is a previous rejection area. This is why I would prefer sells, we have a much cleaner 18 pip range to fill with no barriers. So if we close below support, and form resistance on lower timeframes, sells would be a solid option.
EJ Analysis 28/09/2020 -- UpdateThis analysis played out perfectly, Price broke resistance and created a support on the 15m timeframe, when the 15m candle broke the high of the previous candle after creating support, we executed buys with our stops below the current 15m candle and out 3 take profit points highlighted on the chart from before, all three TPs were smashed and price ended up rejecting off our final target, making this a perfect trade.
EJ Analysis 28/09/2020We are currently trading in a 15 pip range. I will not be trading in the range as it is too small. If we break above resistance and form a support on lower timeframes, I would look to execute buys up to the next resistance, I would look to secure positions at the first two buy targets highlighted on the chart as those are rejections areas. There is clean traffic to the downside if we manage to break through support and form a resistance on the lower timeframes I would look to take potential sells as there is a decent sized range to fill.
EURJPY tend to move further downside,support levels are broken⚡️ The price felled below the 50% Fibonacci and 123.00 key psychological level
⚡️ And the previous price action level was broken and felled below the support level
⚡️ Risk sentiment is remain negative and in Asian session it has make a long bearish candle in 1hr timeframe
⚡️ The price is well below the 03 EMA's and the Ichimoku cloud is pointing towards south
⚡️ RSI is felled below the 50 level reaching towards 30 we can expect minor rebound from this level but EURPY is trading in a downtrend
⚡️ At current level we can see a clear bearish structure.
⚡️ At 11.30 GMT ECB president Miss.Lagarde going to deliver a speech we are expecting that ECB will make a concern about recent appreciation of EURO. And the worrying about recent surge in corona virus
⚡️ The next key resistance level would be 121.00 and a potential level for trend reversal
⚡️ In Elliot wave principal The second wave i already completed and The 3rd wave is underway
Pivot points-H4
R3 123.25
R2 123.07
R1 122.75
PP 122.57
S1 122.25
S2 122.07
S3 121.75
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EURJPY - Outlook 28 Sept 2020 - Sell biased medium termHi all traders,
This is a video analysis for eurjpy which i have done for all my followers.
As always, i have warn some of the levels within eurjpy, do take note of it.
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EURJPY LONGThe monthly and weekly chart has shown a w formation that has been mad. On both charts, price has now reached the previous area of resistance and is now acting as support. I am expecting price to reject the area and rise to the 124.200 area, however, because on the daily and 4hr chart price is consolidating, I will wait for a breakout as confirmation. The weekly shows price has rejected support; however, if price moves downwards, my target will be the 120.000 area. Let me know what you think.
EUR/JPY | Possible Short MoveEUR/JPY – Daily Timeframe and 4 Hours analysis guys.
EUR/JPY we see a very nice short coming along and as our daily candle approaches our 50EMA .If we have a clear breakout 124.450 we will see the next move to our 100EMA which will probably give a bounce to it for a retest to the upside.
The possible target from 123.124 price breakout is 120.000 so we about to get it. One on the watchlist.
If all of this declines at the 50EMA you know what it is guys.
We hope this helps and gives another view for a good trading entries.
Support Levels: 124.450, 123.124, 120.00
Resistance Levels: 125.950, 128.685, 132.500
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EURJPY - Outlook 21/9/2020 - Sell BiasedHi all traders,
This is a video analysis of EURJPY
I hope this video analysis will help traders to identify those important levels so as to trade safe.
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EURJPY, 1hr tf, sell below the kumo cloudHello everyone,
this week i got some positions hit SL as the market going a bit sideways on higher timeframe.
I am gonna try this lower tf setup and play with quick trade for a moment.
For today, i found EURJPY fulfilled all the conditions needed to take a sell position. Now i am waiting for it to retrace a bit to 125.40 before selling it for a better RR ratio.
Sell EURJPY 125.40
Stop loss 125.85
Take profit 1 @124.95
Take profit 2 @124.50
RR ratio is 1:2
Use only 1-2% risk
Good luck