EURJPY Sell continuation tradeHello traders, in my previous EURJPY idea, I mentioned about selling EURJPY at 124.10 at the resistance area( idea attached below). That trade generated more than 140 pips profit.
However, I believe the downtrend is not over yet. There's a good chance that EURJPY will drop to the 122 level. So, look at the lower time frame for bearish price action and sell with 122 at TP.
Eurjpytrade
EURJPY Analysis: Bearish Signals Showing...EURJPY has a clear double top pattern as we can see more clearly in the daily timeframe which I circled in my chart. We saw a nice rejection off the top level starting to form a possible bearish downturn. Interestingly, as price level falls, we saw a nice bullish retracement to the 123.60 price level resistance level and if we were to use fibonacci retracement for this we can see a nice rejection off 61.8 fib level which starts to show us possible BEARISH continuation. On the other hand, MACD shows an interesting outlook for EURJPY showing that a BEARISH movement may start to take place soon. As of now, I am BEARISH on EURJPY however I will be observing a nice breakout from the trendline I drawn to confirm my BEARISH bias.
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EURJPY| STILL BULLISH FOR MEAfternoon Traders,
We have clear uptrend momentum, Id be very interested in seeing how price action responds to the last quarterly highs, (dark blue ray line) At the moment price action is clearly indicating to me further moves to the upside, signified by the large buying that is coming in every time price action tries to push lower,
I've highlighted my area of interest this is where i will be setting my order long if price action confirms it.
if we start showing signs of trend reversal this will usually be significant by large bearish candles, I will of course flip my bias and I will seek an entry to short this pair.
do you agree? let me know.
Thank you.
EURJPY| EARLY MORNING BUY OPPORTUNITY (That I did not take)Afternoon Trader,
I will be honest and say this IS NOT a trade I managed to take, I simply just missed it.
Ill talk you through my thoughts on why I would potentially take this as a trade, we had multi bullish candle closes from the 121.917 level all the way up to the highs of 122.501 level with a swift sell off, initially I was not interested as price action had pushed down too quickly for me showing we may potentially have some non tradable volatility and clear rejection of the most recent high level signalling very little momentum.
However, over the course of the Asian session price action continued to form into a tight range/channel that then hit my key level of interest and my entry would have been triggered and impulsed away.
but as stated I did not enter this trade but for the purposes of being fully transparent I thought It may help fellow traders.
let me know your thoughts if you agree or disagree.
Thank you.
EUR/JPY Technical Analysis
The pair did a long accumulation in the form of an inverted head and shoulder pattern.
It finally broke out and has been consolidating in an ascending triangle (continuation) pattern since then.
Hence, we expect the pair to have a strong bull run when it breaks the resistance level of 122.5.
EURJPY approaching resistance, look out for potential reversal!
EURJPY is approaching its resistance at 122.208 where it is could reverse down to its support at 121.203.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
EURJPY Trade Setup(confirm)EURJPY been making step movements for last couple of days in upward momentum.
This analysis is intraday for long term holders ans now at point 120.032 eurjpy has strong supports as you can see in H1,H4 time frame.According to the upcoming fundamentals EUR should be again high with steps movement like corrective momentum.
EURJPY still is on my watch list and now again making steps movement towards buy direction .The recent price action had a really strong bullish move up from previous history as if you see in the monthly time frame the last month EUR had fallen and made wick .The larger continuation correction on the high time frame is developing further, and we see price continues to go up towards the top of the technical structure, hitting a recent double tops.
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EURJPY: Precision Long.you had to be up pretty earlier to catch this trade, but it came into my range and I entered, very precise entry with very little draw down.
My ideal type of set up, highlighting the channel that price was stuck in, with a key rejection candle and clear momentum to the upside.
let me know if anyone got into this trade or didn't see it, great to hear your thoughts
EURJPY: BUY BUY OR NOT ??after showing some very good potential we may get an entry, i will wait for price action to clear the next couple hours and see what state of play we are in if we are still within range ill look to set an order ideal being the first sketch, but as we all are familiar anything could happen with price action either way my position is absolutely clear.
by no means is this a signal simply my thoughts, your thoughts are always appreciated
EUR/JPY BUY SIGNAL Hey tradomaniacs,
welcome to another free trade-setup!
Market-Buy: 121,310
Stop-Loss: 121,105
Target 1: 121,600
Target 2: 121,750
Target 3: 121,975
Stop-Loss: 20 pips
Risk: 1%
Risk-Reward: 3,41
Peace and good trades
Irasor
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EURJPY, 4hr tf, rising wedge pattern in playBased on the 4hr timeframe it looks like price making a rising wedge pattern on EURJPY.
Right now price hovering below the 121.30-50 resistance area which is previos structure support.
Back then when price touch this area, sellers came in and push price back to the downside. The recent 4hr candle close showin a sign that price looks exhausted and might push it to the downside once again as stochastic also on overought condition.
Sell EURJPY around 121.20-121.30
Stop loss 122.00
Take profit 1 @120.60
Take profit 2 @112.00
Take profit 3 @119.40