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EURJPY Regaining strength on Support?Here we have EURJPY hitting a very major Support line . How major? 2010 High 2012 Low And now we have finally come back to test it in 2016 . Of course the EU Referendum is having a Major impact on this pair, hence its continuous decline in the coming months. But I believe that history will have an impact on this pair and it will climb its way back up to Oct 2015 lows very gradually . The pair seems to have been exhausted from a -28c drop and then a -38c drop which is quite sharp for a few months. This trade is more for swing traders who are wiling to leave it in trade for a few months. Im planning to hold it for a while, with trailing stop losses . For more conservative day traders I suggest trading on breakouts of the trend lines. As always the markets dictates its own future and a break below the Support line could indicate a further plunge!! Also please be aware that I have used an Angle Trend Line which may move its place and be out of position if you move the chart. To fix this move the chart slightly until the trend lines line up with the top of the candle bars.
Long
by moemia
NIKKEI 225 : Dual Patterns Cypher & Gartley Just looked at global indexes and came across these patterns. Both Patterns are almost near to X levels. So ultimately risk will be reduced very much. Note : 1) RSI is completely oversold in single digits 2) Though I am posting now, Idea will be shown from next candle which is after 4hrs and at that time scene can be different & patterns can be invalid. But right now while I am posting Patterns are valid to trade. Its just an idea and I don't trade JPN225 (Nikkei 225) so please check your trade plan before trading Happy Trading !
FX:JPN225Long
by InsiderB
EURJPY Break Out & Re-Test on the 4H...Good Time To Get In!!!Fairly plain to see here if you follow my style at all. I love to trade breakouts.They are a high probability pattern, and being that human psycology drives all markets we knw that the pattern will continue to repeat itself. All we have to do is find them... On the 4H price action has broken out from a wedge and has come back down to re-test. As soon as I see a move to the upside I am going long. There is an established trend line around the 125 mark so ill be watching closely once we are there. Only risk 2%!!
Long
by Blackwood_fx
EURJPY descending triangleVery well-formed descending triangle, which is typically a bearish signal. 6 hit points, with the hit points converging towards the apex of the triangle. Depending on how you trade this, you could look to go long now and ride a potential furthering of the triangle, closing out at the resistance and then shorting a break to the downside. Alternatively, you could just wait until a break to the downside (if it happens at all) to short. I would short at a close below the horizontal black line. Fundamentals Given the recent BOJ decision to leave monetary stimulus unchanged, the YEN could continue to see the bullish run it has had over the past months. But watch out for any risks in upcoming BOJ meetings.
Short
by olly_price