EURJPY / last week buys and this week continuation I bought last week, held over the weekend and my tp of 90 pips was hit. Saw another opportunity to buy so now we wait.
EURJPY trade ideas
Tracking EUR/JPY 5/5/24Market starts off bullish in the open off an area of interest, expecting either a pull back to daily support zone 164ish or a continuation to the upside
Currently the market still consolidates with no strong confirmation of which way to trade at the moment
Market sentiment is mixed, with most on Short side
Big trend is still bullish
Prices has tested support just once, still waiting for more information before putting in a trade in the next few days
Best thing is to stay on the sideline until we get back into an area of interest once again
EUR/JPY Bearish Scalping Robbery PlanMy Dear Robbers / Traders,
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EurJpy- Test of 170 once more?
For over two years, OANDA:EURJPY has been experiencing an upward trend. The pair is ascending within a clearly defined rising channel.
Despite a drop at the end of last year, triggered by JPY repatriation, the overall trend remained intact, and EURJPY resumed its upward trajectory at the beginning of this year.
The end of April saw the pair reach a new all-time high, followed by a rapid and aggressive decline induced by the BoJ intervention.
Currently, 164 stands as a strong floor. As long as this level holds, further gains towards 170 can be anticipated.
EUR/JPY: Possible Reversal after Retest Bearish Order BlockFollowing its ascent to the 171.500 area, the EUR/JPY underwent a notable surge, echoing the analogous movement witnessed in the USD/JPY pair. In light of this development, our approach entails anticipating a potential retracement of the preceding bearish momentum, employing limit orders to capitalize on favorable entry points. Simultaneously, we remain vigilant for indications of a pronounced reversal, particularly in alignment with the prevailing direction of the Point of Control (POC) Volume.
It's noteworthy to highlight the robust correlation between the USD/JPY and EUR/JPY pairs, which underscores our overarching perspective on anticipating a bearish impulse in both currency pairs. This correlation serves as a significant factor in shaping our strategic outlook, as we assess market dynamics and formulate our trading strategy.
In essence, our analysis indicates an inclination towards a cautious stance, with a focus on potential opportunities for a reversal in the EUR/JPY, while keeping a close eye on broader market trends and correlations with the USD/JPY pair. This comprehensive approach aims to optimize trading decisions and capitalize on favorable market conditions as they unfold. Lastly the Stochastic indicator shows a possible correction as the the value is in overbought condition.
Eur/jpyI will look all the yen pair based on my analysis on usdjpy.
As USD/JPY has higher interest differential compared to eur/jpy ,so it would follow similar pattern.
this is the usd/jpy analysis
So I think there is an opportunity to get into the countertrend setup to the level of resistance before we analyze for short!!
Follow me for another Setup
EURJPYEURJPY is at a very tricky area of 165.474 ,from this area we have the 200 SMA above it which indicted we could still get more sells but if price breaks above the 200 SMA at 165.474 area we shall see buys towards 168.960 but if the area holds we shall see sells towards 162.511
EURJPY - Bearish TradeEURJPY in Bearish Trend with Bearish Rectangle is indicating continuation of Declining Phase.
EUR-JPY Will Grow! Buy!
Hello,Traders!
EUR-JPY retested the
Rising support line and
Is already making a
Bullish rebound so
As we are bullish biased
We will be expecting a
Further move up
Buy!
Like, comment and subscribe to help us grow!
Check out other forecasts below too!
EURJPY KEY🗝️LEVELS TO WATCH👀 AND WHY🤔
Hello awesome traders! It's been quite a ride with EURJPY since April 10, 2023. Let's delve into the charts and analyze some key levels to guide our trading decisions.
Weekly Chart Analysis:
The weekly chart reveals a symmetrical triangle pattern, which I previously shared on TradingView back in April 2023. This chart holds significance as it demonstrates a breakout on April 10, 2023, with the price remaining bullish ever since. I've highlighted two crucial Fibonacci levels: the 38% retracement level at 154.142, acting as support (marked in red), and the 100% extension level at 163.490, serving as resistance (marked in blue). Over my decade of trading experience, I've learned that these Fibonacci levels not only serve as potential targets but also as important support and resistance zones. Fibonacci analysis is instrumental in identifying these key levels.
Now, as we examine recent price action, we must determine our trading bias. The 162% Fibonacci extension level at 172.687 hasn't been triggered yet. However, the 100% level at 163.490 may now be acting as support, indicating a shift from resistance to support. This shift influences our trading decisions, potentially favoring a bullish outlook.
Daily Chart Analysis:
Zooming into the daily chart, we observe a three drives pattern unfolding. Here, we apply Fibonacci retracements instead of extensions, using points A (160.215) to D (171.605). Currently, the price is hovering around the 62% retracement level (AD: 164.603), slightly above the support at 163.490. Additionally, the 78% retracement level (AD: 162.640) serves as a potential support zone. This bullish pattern on the daily chart aligns with the bullish sentiment seen on the weekly chart.
On the H4 timeframe chart, we're witnessing further bullish momentum. Moving forward, it'll be crucial to monitor whether the price holds above these support zones. If so, we may anticipate a continuation of the bullish trend towards the 162% Fibonacci extension level at 172.687.
Overall, by integrating Fibonacci analysis across different timeframes, we gain valuable insights into potential price movements and can make informed trading decisions. Let's keep a close eye on these levels and adjust our strategies accordingly. Happy trading!
EUR/JPY: Long-Term Buy Signal Holds StrongHello Everyone,
Long-term prospects for EUR/JPY continue to favor buying, with an upward trajectory expected. Despite significant seller activity aiming to breach daily support, the current stance on EUR/JPY remains bullish, emphasizing its potential as a buy.
TradeWithTheTrend3344
EURJPY - Bullish Divergence - Trend Line SupportFX:EURJPY has retraced to a daily/4 hr trend line support level after creating a higher high in a bullish trend. Bullish divergence has also formed on the chart indicating good potential for a continuation of the bullish rally!
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.
DeGRAM | EURJPY channel testingEURJPY is moving in an ascending channel between the trend lines.
Volatility has increased.
The chart has fallen under a strong resistance level.
We expect a decline after the resistance retest.
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