EURJPY "BUY"Trend : Daily (Uptrend)
Technical : Key level, Buy at support, Confirmation as uptrend (ascending channel)
Risk reward : 1.3
Eurjpytrade
EUR/JPY AnalysisEUR/JPY is in a tough spot right now on the daily, we dont see a clear indication for either long or short.
It tapped the Weekly liquidity, but that might have not been enough (Daily also still in a bullish trend)
EUR/JPY shows signs of weakness though, so we might see a Daily Trend reversal for this week, hence the trade for Traders with bigger risk appetite: Short.
EUR/JPY Technical Analysis
The counter had multiple supports- trendline, bullish flag support and price action support.
But it has broken all the levels and bulls are trapped big time.
Hence, we expect some long unwinding move in the counter.
EURJPY / SHORT / BIG MOVESPatiently waiting for this to break trendline then we wait for the pullback and boom
EUR/JPY: swing SHORT TRADE setup and parameters 126.50 to 128.00 is SELL zone, in principal the overshoot is taken into consideration and is part of the plan
128.50 is strict STOP level
I do expect certain kind of lower move anytime by Tuesday's close. when happens just lower the stop to lock some gains. closing some portion is also okay. of course there many more money management strategies that can be used to maximize the gains. but I approach this sharing to help beginners and also the professional ones as the quality of this trade plan is high grade.
the target is clear and sort of minimal. of course, I repeat, there are many ways to increase rewards and decrease risks. but for now let us stay with the TRADE.
feel free to contact me and we together may check ways to be focused to serve your individual trading needs/targets better.
as always, good luck !
EURJPY Short AnalysisEURJPY long Analysis. Trying a strategy of trading, been backtesting for some time now.
Look for long entry on EURJPYWait for an rejection or wick in this area then wait for that rejection to close, then take the trade or place a buy limit.
EURJPY Hourly chart analysis: price at the top of the channelEURJPY is moving inside a price channel on the hourly chart for the last couple of weeks. Currently, it has reached the top of the price channel.
Ther's a chance that EURJPY may drop back to the bottom of the price channel in the next few days.
Look out for bearish price action at the top of the channel and sell EURJPY with TP at the bottom of the channel.
EURJPY Short AnalysisLooking to see some bearish pressure and a break and retest of this possible Hns.
EURJPY please let me know what you think of my analysis and if you have any questions or comments let me know
Look for Short entry on EURJPYWait for an rejection or wick in this area then wait for that rejection to close, then take the trade or place a SELL limit.
POLICE HELICOPTER125 and 116 are key monthly levels that i will be looking at setting orders at, notice how these are nice round numbers also!
If you want to see the bigger picture you must zoom out, so use the higher timeframes and you will spot stronger and more setups, if the police want to find someone in a crowd they use a helicopter (so they are looking at the bigger picture eg the monthly timeframe) This way they have more chance of finding who or what they are looking for, use this analogy in your trading setups and you will find what you are looking for.
Price is only going 1 way for me, down so the bears are going to take over from the 3 months of bullish moves, price is at a key resistance level on the monthly timeframe and if you look at the 4H and Daily timeframes you can see that price is slowing down and struggling to break this key level, this usually indicates a change of momentum.
If you would like any help trading just send me a message on here for a chat :)
Lots Of Love Laura x
EURJPY BUY ON DIPEUR - BULLISH
1️⃣ PMI data confirmed the Eurozone private sector activity grew in July by the most since June 2018 while the retail trade report showed the bloc's sales bounced back to pre-pandemic levels.
2️⃣ ADP report showed the US private sector added nearly 170K jobs during last month, missing consensus badly.
3️⃣ The euro enjoyed its best month in a decade during July supported by a massive relief package agreed by EU leaders and dollar weakness.
JPY - BEARISH
1️⃣ The Japanese government plans to decide at a cabinet meeting on Friday to use over 1 trillion Yen from its reserves for responding to the COVID-19 epidemic, after added 1,200 new cases on Tuesday.
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Technical
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📊 We look to long this pair on RBS level on H1 chart.
📊 EURJPY in bullish zone.
Uptrend continuation expected, buy the dipsEURJPY market structure remains Bullish and price is above the 100H EMA. So, a continuation of the uptrend is expected.
I would be looking to buy the dips near 124.30-124.65 with SL below 124 and TP at 126.
Watch the area that I have highlighted in my chart. Buying here carries the lowest risk because your TP would be big and the SL would be small.
Watch for bullish price action near this highlighted area and buy with the above targets.
EURJPY SHORT!Pair name - EURJPY
Action - SELL/SHORT
ENTRY - 124.60
TP - 123.93
SL - 125.90
TRADE STATUS - OPEN
EURJPYThe overall trend is bullish.
But right now the price is in the state of uncertanty.
There are chances that we can see a pull back to the downside as the the price cannot break the upper trendline.
So we should act as usual depending on the price action at the moment.
Don't forget about risk management and always leave space for little mistakes.
Remember nobody knows where the price will go next. But there is 100% assurance that it will either go to the upside or to the downside.
Cheers!
EURJPY AnalysisPrice is currently bearish overall so I am only looking for sells.
Price has made a double bottom and created a support level. I am going to wait and see what price does because there wasnt a lower low made yet and I do not want to enter a sell at just anywhere. There are three ways I am looking to enter a trade:
1. Price closes below the support showing bearish pressure in the market and signs it will make a lower low
2. I am going to wait for price to test the resistance level and look to get in a sell after 2/3 rejections of that level on the 15 min or if there is a double top formed on the 5 min. I will put my SL above market structure so that I will have a small stop loss with a great 1-3 RR trade setup to target the support level just in case it starts ranging.
3. If price breaks that resistance level and stops me out I will likely be looking for buys as that will mean a higher high was formed and look to enter on the higher low.
Hope this helped give you an insight to how I currently see the structure of EURJPY.
Make sure to drop a like and leave a comment below :)
