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EURJPY trade ideas

EURJPY - 2 Overlapping Trades - A Fundamental & Technical LookLet's take both a fundamental & technical look at the EURJPY. On the fundamental side, after a week full of data, the markets are now expecting a larger than normal interest rate cut on December 12th, while on the other side, the Bank of Japan is expected to give us another (rare) rate hike. On the technical side, we have 2 potential setups occurring in the same location. One in form of a 2618 (which is a retest of a double bottom), and the other being a potential bullish Cypher pattern. Hope you found value in this video. if you did please show your love in the comment section and by SMASHING that like button. If you have any questions or want to share your views it's much appreciated, so I encourage that you do so below. Akil
Long
by Akil_Stokes
Price Action Analysis - EUR/JPY Weekly Chart- Result: BearishHi Traders, The current trend seems slowly forming head and shoulders pattern. Will it play out? Yes, it will if the price is break below $155 zone. The price is respecting the major trendline since 2012 which was the first touched, followed by second touched in 2020. Will the third touch happen? who knows. If it destined to touch the third time, maybe around $135 - $140 Zone. Let's open discussion and hear your voice. Thanks, Red Panda Trader
Short
by RedPanda_Trader
#010 DCA EURJPY ShortI think I could maximise my margin and potential by entering on another trade that is not correlated (or at least doesn't have any currency that I have already opened with this DCA method.). Besides taking trades on a pullback, I think I could also maximise the markets 50 50 potential by entering trades on its push wave aka Impulse Wave. Pull wave being Pullback or retracement. So, here's the plan. I enter on a push for 100 units (0.001 lot / 1 cent SGD) and if price hits my TP, all is good. If price pulls back, and goes into a drawdown, I would enter on the pull wave for 100 units also. If I enter on both push and pull waves, I have the option to exit on the 1st trade's breakeven, which equates to my 2nd trade taking profit which means I make money on EURJPY. If I go into a further drawdown, and enter on my 3rd or subsequent positions, I would look to exit at the middle point of all the open positions. The middle point would provide me an opportunity to exit for a breakeven on all my positions. I would also still continue to risk 100 units on all other positions. I have the option to enter on a bigger lot size, so that I could compensate for all the losses quicker and not have to wait for price to hit the middle point before I could breakeven. But that has its risk. I could also enter on a bigger lot size and hope to get out for a small profit, but that is even riskier. I would hope to enter and exit as soon as possible to minimise the stress I have to handle. 2008SGT 22112024
Short
by ProfessionalDuckHunter
EURJPY to find buyers at current swing low?EURJPY - 24h expiry We are trading at oversold extremes. This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher. Preferred trade is to buy on dips. The hourly chart technicals suggests further downside before the uptrend returns. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Although the anticipated move higher is corrective, it does offer ample risk/reward today. We look to Buy at 162.20 (stop at 161.18) Our profit targets will be 164.70 and 164.95 Resistance: 164.90 / 167.40 / 170.90 Support: 162.45 / 159.40 / 154.40 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
EUR/JPY ShortAfter a long time, I am placing a short trade on EUR/JPY. This is a short position where I’m risking about 5% of my account size on this setup. The key level I’ve been watching for quite some time is the supply-demand zone at **166.79**, which has been consistently pushing the market towards a sell. Now, there are two possible scenarios: 1. The market could experience a significant downturn, dropping sharply. 2. Alternatively, the market might enter a sideways zone. If the market moves sideways, I anticipate it could range between **166.79** and **153.94**. Either way, whether the market sees a sharp decline or consolidates sideways, this setup is designed to remain profitable. Thank you, everyone! That’s my take on this pair and setup for now. **Date:** 21/11/2024
Short
by Adrian_Rahssan