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EURJPY trade ideas

EUR/JPY Eyes 164.80 Amid Bullish MomentumThe EUR/JPY pair exhibits a strong bullish trend, with prospects of reaching the 164.80 level soon. Recent movements reflect a recovery fueled by the divergence between the Eurozone and Japan's monetary policies. The European Central Bank (ECB) maintains higher interest rates, while the Bank of Japan (BOJ) continues a cautious approach to normalization, leading to a weaker yen. A break above 163 signals bullish momentum, possibly extending to 164.50-164.80 if supported by favorable eurozone data or dovish BOJ commentary. Caution is needed for potential resistance challenges. Technical Factors: - Key Resistance Levels: 163.00, 164.80 - Key Support Levels: 162.00, 161.50
Long
by ClearTradingMind
Around 1000 pips to the upside here EURJPY is still very strong and will continue climbing here , there's around 1000 pips to be made here. The big boys need to mitigate the previous bearish orange order block. I've used a Renko chart to represent price and price action. As you can see a nice base has formed during the second week of September, followed by unusual high bullish volume in the first week of October. The roadmap is clear, we're most likely going to see a double top here at around 175 , with an intermedia target at around 170. Disclaimer: white bars = up, black bars = down, green bars = unusual high bullish volume, red bars = unusual high bearish volume.
Long
by MoneyForNothingAndPipsForFree
EURJPY BUY FORECASTEURJPY New forecast👨‍💻👨‍💻 Note: Follow proper risk management rules. Never risk more then 2% of your total capital. Money management is the key of success in this business...... Set your own SL & TP. Please support this idea with a Like and COMMENT if you find it useful click "follow" on our profile if you will like these type of trading ideas delivered straight to your email in the future. Thanks for your continued support!! lemme know your thoughts in the comment sec...
Long
by King_CityStar_Fx
EURJPY BREAKOUR OR FAKE OUT?The recent breakout in the EUR/JPY currency pair can be attributed to a confluence of macroeconomic factors and technical signals. Primarily, the divergence in monetary policy between the European Central Bank (ECB) and the Bank of Japan (BoJ) has created a favorable environment for the euro to appreciate against the yen. The ECB's inclination towards tightening monetary policy in response to persistent inflationary pressures in the Eurozone contrasts sharply with the BoJ's continued commitment to maintaining its accommodative stance, including negative interest rates and yield curve control. This divergence has led to increased capital inflows into the Eurozone, bolstering the euro's value. Additionally, technical analysis indicates that the pair broke through a significant resistance level, triggering further buying momentum as traders sought to capitalize on the upward movement. Coupled with improved economic indicators from the Eurozone and ongoing geopolitical uncertainties in Asia, these elements collectively contributed to the EUR/JPY breakout, signaling potential for further appreciation in the near term.
Long
by Marshall_Wick
EUR/JPY Technical Analysis:(READ DESCRIPTION)EUR/JPY Technical Analysis: Upside Potential with Key Support at 162.53 Pivot Point: 162.53 The pivot at 162.53 is a crucial support level for EUR/JPY, acting as the foundation for potential upward movement. As long as the pair holds above this level, bullish momentum could take the price higher. Our Preference: Long Positions Recommended Trade: Long positions are favored as long as the price remains above the 162.53 pivot point. This could lead to a significant move toward higher resistance levels. Target Levels for Upside Movement: First Target: 164.52 This is the main upside target where traders may aim to take profits or assess further bullish continuation. Alternative Scenario: Downside Risks If the price drops below 162.53: Bearish Outlook: First Target: 161.79 Second Target: 161.35 These levels serve as potential support zones if a bearish trend emerges. Technical Insights: RSI Indicator: The RSI is above 50, signaling bullish momentum. This suggests that the price has potential to rise further as buying interest increases. MACD Indicator: The MACD is positive but below its signal line, indicating potential short-term retracement before the uptrend resumes. Moving Averages: The price is trading above both the 20-period and 50-period moving averages (163.03 and 162.76, respectively), reinforcing the bullish outlook.
by CharivapaAlgo
EURJPY / LONG / H1EURJPY may rise from the Bullish Order Block! EURJPY is approaching a key bullish order block zone. If the price touches this zone, we can anticipate a potential upward momentum. It's advisable to consider a direct entry at the current price level, as there is a high probability that the price will rise from the given order block. Bullish Order Block: 162.667 and 162.194 Resistance: 163.581 and 163.442 I used Smart Money Concepts (SMC) to analyze the charts, which has a high success rate for predicting market movements. ENTRY PRICE :- 162.667 TAKE PROFIT :- 163.218 STOP LOSS :- 162.110
Long
by PraveenTrader1