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EURJPY trade ideas

EURJPY Rejects Triangle Support:First Impulse Wave to the UpsideEURJPY has respected the lower trendline of the triangle formation, showing strong rejection at support. The first impulsive wave to the upside suggests potential bullish momentum building up. If the structure holds, we could see a breakout and continuation higher. However, confirmation is key—watch for follow-through price action and volume before entering! Will bulls take control, or is this just a fake move? Stay alert! 📊📈🔥 #ForexTrading #ElliottWave #EURJPY #TrianglePattern #ForexAnalysis #PriceAction #Elliotwavesglobal
Long
by Elliotwavesglobal
3
Lingrid | EURJPY Long from the Potential DEMAND zoneThe price perfectly fulfilled my last idea . It hit the target. FX:EURJPY broke below the January and December lows, testing the psychological level at 157,000. It reached the demand zone around 156,000 - 157,000. Based on this, I expect the market to move higher, potentially reaching the January low. On the daily timeframe, it becomes apparent that the overall price is trading within a consolidation zone, with the current price having reached the bottom of it. Consequently, I anticipate a rebound from the bottom of the zone and downward trendline, indicating a potential upwards momentum. My goal is resistance zone around 159.700 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
10
EJ, bound for a massive upside reversal in the next few seasons!EJ has corrected with so much weight after going parabolic on Q2 of 2024 (June 2024) -- peaking at an ATH of 175.0. There after a massive correction was warranted that has lingered for months ahead. Now based on recent long term metrics. EJ is now heavily showing some basing behavior from the current range at 157 zone. This is conveying already of a shifting structure on its price. It has created a triple bottom formation that spans 2 years! From this scenario alone you can sense the contextual direction it is about to undertake. Reverse to the UPSIDE. Based on its historical price movements - it has undergone what I called a transitional shift to new ascending channel. You can check the chart above for reference. We are now at that period. Expect some fresh series of price growth attempts from here on -- aiming to reclaim new high metrics. Best seeding season is NOW. Spotted at 157.0 TAYOR. Trade safely.
Long
by JSAL
1
EURJPY Wave Analysis – 6 February 2025 - EURJPY broke support zone - Likely to fall to support level 156.00 EURJPY currency pair today broke support zone between the support level 158.00 (which reversed the price at the start of this month) and the support trendline of the daily down channel from December. The breakout of this support zone strengthened the bearish pressure on this currency pair, which accelerated the active impulse wave iii. EURJPY currency pair can be expected to fall to the next support level 156.00 (which has been reversing the price from August).
Short
by FxProGlobal
EURJPY Approaching Key Support - Buying Opportunity Ahead?OANDA:EURJPY is approaching a key support zone, an area where the price has previously shown strong buying interest. The recent price action suggests that buyers may step in and drive the price higher. A bullish confirmation, such as a strong rejection pattern, a bullish engulfing candle, or long lower wicks, would increase the probability of a bounce from this level. If buyers regain control, the price could move toward the 160.080 level. However, a breakout below this support would invalidate the bullish outlook, potentially opening the door for further downside. This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation, like a rejection candle or volume spike before jumping in. Please boost this post, every like and comment drives me to bring you more ideas! I’d love to hear your perspective in the comments. Best of luck , TrendDiva
Long
by TrendDiva
1
EURJPY: TP3 Hit +127 PipsUSD-JPY moved sideways ahead of President Trump and Japan’s Prime Minister Ishiba’s meeting. The JPY has held on to its gains from yesterday, and notably, it has been the best performing currency in the G-10 space this week. The overnight comments by BoJ board member Naoki Tamura also helped, as he flagged the need for more interest rate hikes (Bloomberg). Some market participants might believe the recent fall in US yields – on the back of US Treasury Secretary Scott Bessent’s comments on bringing down US 10-yr yields – could have driven the move lower in USD-JPY. However, by our estimates using historical elasticities, the narrower yield differential alone can explain about only half of the JPY’s c2.5% gain since the BoJ meeting. For USD-JPY, we think the market’s focus is on two other factors (beyond yields): (i) US-Japan relations, and (ii) GPIF asset allocation. On the former, Scott Bessent has already spoken to Japan’s finance minister and the BoJ governor. President Trump and Prime Minister Ishiba are set to meet later tonight and markets are on high alert for any potential discussion about USD-JPY (being too high). On the latter, the GPIF’s next 5-year investment plan will start in April 2025 and markets are speculating that the GPIF could start divesting from foreign assets to increase its allocation in domestic bonds. It is worth mentioning that the GPIF has an AUM of USD1.65tn. Given local investors are under-hedged the downward momentum in USD-JPY could quickly take a life of its own.
Short
by AccuTrade2000