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Eurjpytradeidea

What's the NEXT? EURJPYHello, friends! This is ESS team. EURJPY is ready for the next wave after a strong rally. Let's check what next happens. This is the EURJPY 4H chart. After breaking through the short bearish extended wave, the chart is currently being drawn in the bullish extended wave. After reaching 618 with the Fibonacci retracement, the 4H orderblock zone flips to convert resistance to support, the candle make consolidation and prepares to draw the next wave. If it break out the RED short-term trend line and then is supported the zone or the short-term trend line and rise, it is likely to rise up within the extended wave for some time. On the contrary, If candle is resisted at RED short-term trend line and breaks down the zone, There is a possibility that it may fall to the bottom of the wave.
by ESS_piglet
EURJPY Direction for current and next weekEURJPY has been showing a bullish trend on the high time frame, although it has been range bound since August 30, 2023. The price action has recently touched down on a key demand zone ranging between 157.11 and 157.32. I plan to wait for a clear bullish break of structure (BOS) along with positive price action and momentum before entering a buy position. My target for this trade would be the 158 level or higher. While there's another demand zone below the current one, it seems reasonable to anticipate a bullish move. This expectation is based on the likelihood that the market will accumulate sufficient liquidity either at the current demand zone or the one below it before making an upward move.
Long
by BinSaeed83
EUR/JPY Ascends Beyond 158.30 Amid Hawkish ECB CommentsThe EUR/JPY currency pair has edged above 158.30, largely influenced by ECB President Christine Lagarde's hawkish stance on inflation and interest rates. The pair faces resistance at 158.18 and could establish new trading ranges depending on upcoming economic data releases. The Bank of Japan maintains its loose monetary policy, offering a contrasting backdrop. TRADE IDEA DETAILS CURRENCY PAIR: EUR/JPY CURRENT TREND: Bullish above 158.30 TRADE SIGNAL: Conditional Buy 👉 ENTRY PRICE: 158.40 ✅ TAKE PROFIT: 159.40 ❌ STOP LOSS: 157.80 ANALYSIS: The EUR/JPY is trending upwards, buoyed by ECB's hawkish comments. Technically, the pair is experiencing resistance at the Tenkan-Sen line of 158.18. A breach above this line could signal strong bullish momentum. The risk-to-reward ratio is favorable with 1:2 (60 pip loss vs. 100 pip gain). FINAL THOUGHTS: The trade idea aims to capitalize on the pair's current bullish momentum and potential for higher moves. However, traders must exercise caution and keep an eye on fundamental economic releases that could influence market sentiment.
by RichDadph-FX
EUR/JPY Faces Downward Pressure: Support Looms Near 156.00The EUR/JPY currency pair faces short-term bearish pressure, declining to lows near 157.00. Key support levels emerge at 156.00, 152.50, and 151.40, marked by various SMAs. Despite the immediate downturn, the longer-term trend remains bullish, supported by the 200-day SMA at 147.51. The situation provides both short-term and long-term trading opportunities, all illustrated in the daily technical chart. TRADE IDEA DETAILS CURRENCY PAIR: EUR/JPY CURRENT TREND: Short-term bearish, long-term bullish TRADE SIGNAL: Sell (Short-term) / Buy (Long-term) Short-term (Sell) Trade: 👉ENTRY PRICE: 157.00 (Recent multi-day low) ✅TAKE PROFIT: 156.00 (55-day SMA) for a short-term trade, or 152.50 (100-day SMA) for a more extended trade ❌STOP LOSS: 158.00 (Just above the recent trading range) Long-term (Buy) Trade: 👉ENTRY PRICE: 156.00 (55-day SMA) ✅TAKE PROFIT: 160.00 (Psychological resistance level) ❌STOP LOSS: 154.00 (Below the 100-day SMA) ANALYSIS: Short-term (Sell) Trade: The recent decline in EUR/JPY and a break below the 157.00 level offers a short-term selling opportunity. The 55-day SMA serves as a near-term target. Long-term (Buy) Trade: The longer-term bullish trend and support at the 156.00 level (55-day SMA) provide an opportunity to buy, expecting a bounce and a return to the longer-term upward trend.
Short
by RichDadph-FX
EURJPY Trading Plan - 27/April/2023Hello Traders, Hope you all are doing good!! I expect EURJPY to go Down after finishing the correction. Look for your SELL setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Short
by For3xScalper
1
EURJPY - FUNDAMENTAL AND TECHNICAL VIEW#EURJPY - Currently there is an UP SIDE BIAS for EURJPY. XXXJPY CURRENCIES BUY very fast in previous weeks with JPY WEAK after BOJ MEETING. Somehow it is being RECOVERED again. MARKET RISK is still ON. VIX is going DOWN, XXXJPY CURRENCIES SHOULD BE BUY FAST NOW. - Some NEWS coming for the USD will help strengthen the EURO. Because the reason for that is because the NEWS related to USD is quite weak and USD has got a weak SENTIMENT. But in the future, if the RATE HIKE SENTIMENT is PRICED by the ECB, EURO may be BUY more. EURJPY can be SELL at 143.80 level before BUY. After that you can BUY at 148.00 LEVEL. If the MAIN STRUCTURES BREAK somehow, EURJPY price can definitely be BUY at 146.61 LEVELS.
by benny_marshall
EURJPY - FUNDAMENTAL AND TECHNICAL VIEW#EURJPY - Currently there is an UP SIDE BIAS for EURJPY. XXXJPY CURRENCIES BUYED VERY FAST IN THE PREVIOUS WEEKS WITH JPY WEAK AFTER THE INTERVENTION. Somehow it is being RECOVERED again. MARKET RISK is still ON. VIX is going DOWN, XXXJPY CURRENCIES SHOULD BE BUY FAST NOW. - Some NEWS coming for the USD will help strengthen the EURO. Because the reason for that is because the NEWS related to USD is quite weak and USD has got a weak SENTIMENT. But in the future, if the RATE HIKE SENTIMENT is PRICED by the ECB, EURO may be BUY more. For that, the support of EURO STOCKS and VIX must be received. We have no more confirmation that the EURO is likely to be WEAK. EURJPY can sell at 138.844 level before BUY. After that you can BUY at 147.15 LEVEL. If the MAIN STRUCTURES BREAK anyway, the EURJPY price can definitely be BUY at 147.15 LEVELS.
by benny_marshall
EURJPY - FUNDAMENTAL AND TECHNICAL VIEW#EURJPY - Currently there is an UP SIDE BIAS for EURJPY. XXXJPY CURRENCIES BUYED VERY FAST IN THE PREVIOUS WEEKS WITH JPY WEAK AFTER THE INTERVENTION. Somehow it is being RECOVERED again. MARKET RISK is still ON. VIX is going DOWN, XXXJPY CURRENCIES SHOULD BE BUY FAST NOW. - Some NEWS coming for the USD will help strengthen the EURO. Because the reason for that is because the NEWS related to USD is quite weak and USD has got a weak SENTIMENT. But in the future, if the RATE HIKE SENTIMENT is PRICED by the ECB, EURO may be BUY more. For that, the support of EURO STOCKS and VIX must be received. We have no more confirmation that the EURO is likely to be WEAK. EURJPY can be SELL at 143.195 level before BUY. After that you can BUY at 151.00 LEVEL. Anyway, if MAIN STRUCTURES BREAK, EURJPY price can definitely BUY at 151 LEVEL.
by benny_marshall
EURJPY - FUNDAMENTAL AND TECHNICAL VIEW#EURJPY - EURJPY currently has an UPSIDE BIAS. With JPY WEAKNESS, XXXJPY CURRENCIES are BUYING very fast right now. EVEN IF VIX UP, XXXJPY CURRENCIES BUY VERY FAST WITH JPY WEAKNESS. Maybe it can reach 143.711 LEVEL. 143.711 is a very good resistance limit. - Some NEWS coming for the USD will help to weaken or strengthen the EURO. But if the RATE HIKE SENTIMENT is PRICED by the ECB, EURO may be BUY more. - Anyway, the price can move to the area I mentioned and after that the EURJPY price can move back to the 137.06 LEVEL. For that VIX should be UP and JPY should be STRONG. eurjpy
by benny_marshall
11