Swing Trade Idea #1Price has now break above strong support/resistance (supply and demand zone), a very well respected area. Now we wait for the price to retest the demand zone to buy, with my strategy it could be a 60% grade.
JPYEUR trade ideas
EURJPY Poised to Resume Upward Movement After Small CorrectionEURJPY Poised to Resume Upward Movement After Small Correction
At the start of the new week, all JPY pairs increased significantly.
The bullish wave was triggered by the Liberal Democratic Party (LDP) of Japan losing its outright majority in the lower house for the first time in 15 years.
Voters punished Prime Minister Shigeru Ishiba's scandal-tainted ruling coalition, leaving no party with a clear mandate to lead the world's fourth-largest economy.
Technical Analysis:
On the 60-minute chart, the price broke out aggressively during the night, reaching 166.07.
So far, it appears to be a normal correction, and the bullish wave may resume soon, with EURJPY potentially rising further to 166.40 and 167.40, as indicated on the chart.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
EURJPY - Whatch Resistance#trading_idea 💡
🇪🇺🇯🇵 #EURJPY - Whatch Resistance
On the 4H chart, an ascending triangle pattern is forming. The price is testing resistance at 165.96. MACD points to a possible correction downwards while Bulls & Bears indicator shows the power of bears.
🔼 If buyers have enough strength to break the resistance 165.96, the price will most likely rise to 166.632.
🔽 If the sellers' pressure continues, the most likely scenarios are reaching local support levels 165 or lower.
🔷 React with "👍" if you foresee the price growth and "👎" if you believe it will decrease
➡️➡️ TRY SABIOTRADE NOW
DeGRAM | EURJPY pullback from resistanceEURJPY is moving in an ascending channel above the trend lines.
The price has reached the resistance level, which coincides with the important psychological value of 166.
The chart has formed but not closed the gap.
We expect a pullback.
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Share your opinion in the comments, and support the idea with a like. Thanks for your support!
EUR/JPY Weakness Post BOJ Comments - Further Direction?Governor Ueda was on the wires last night with variance comments supporting a slightly stronger Yen.
Lots of caution was issued but overall seems that slight leaning to hikes/when they'll be has given a bit of a shift in sentiment.
Unlikely BOJ will allow another series of devaluation and likely look for rate hikes to control currency rates VS major economies.
Any shorts for me are higher up the FIB scale (and value scale). If no real follow through comes would not be surprising to see this occur.
EU Good News and Uncertain BoJ Hike Timing (past)Fundamentals & Sentiment
EUR:
- COT
- Recent ec.data (GDP, CPI)
USD:
- Risks: pre-election swings
Technical & Other
Setup: TC(B)
Setup timeframe: 4h
Trigger: 1h
Medium-term: Up
Long-term: Up
Min target: 168.0
Stop loss: 0.22%
Position size: 0.5 of the normal Risk Unit
Bearish drop?EUR/JPY is reacting off the resistance level which is a pullback resistance which is a pullback resistance and could drop from this level to our take profit.
Entry: 166.49
Why we like it:
There is a pullback resistance level.
Stop loss: 168.03
Why we like it:
There is a pullback resistance level.
Take profit: 165.03
Why we like it:
There is an overlap support level that aligns with the 38.2% Fibonacci retracement.
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EURJPY → Buyer pressure is mounting. Pre-breakout consolidationFX:EURJPY is forming quite an interesting situation on the background of inaction of the Japanese Central Bank (weakening of JPY exchange rate) as well as strengthening of EUR.
The currency pair has been in the realization phase for more than a week. Based on the general assumptions, we can assume that this is not the end and the growth may continue. An ascending triangle is being formed on H1 (pre-breakout consolidation) against the resistance at 166.065. Accordingly, this level is a trigger. Within the general technical and fundamental environment, we can conclude that the currency pair is preparing for the continuation of growth.
If the bulls are able to overcome 166.06 and keep the defense above this zone, we should expect the continuation of the growth in the short and medium term.
Resistance levels: 166.06, 166
Support levels: 165.68, 165.14, 164.95
The trend is bullish, buyers are actively defending the trend support. All market pressure is focused on the resistance. A break of the level may provoke a strong upward impulse
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURJPY ;)
Regards R. Linda!
EURJPY - Important BreakoutHello Traders !
The EURJPY failed to create a new lower low,
The price formed a double bottom pattern.
Currently, The neckline is broken🔥
So, I expect a bullish move📈
______________
TARGET: 166.900🎯
EURJPYCurrent market conditions show trend continuation signals across multiple timeframes, with key levels identified for potential entries and targets.
EURJPY STILL HEADING FOR 166.24. (bullish)Got a beautiful trade today after Germany's GPD was released during Europe trading session.. using OTE entry after BOS n MSS was confirmed inside a FVG.
Euro japanese yen Eurojpy is super postive breakout detected and it will continue to rise .targets in analysis .
EUR/JPYEUR/JPY Trade Plan (30th Oct 2024)
📉 Current Market Overview:
EUR/JPY remains in an uptrend as investors capitalize on higher Eurozone interest rates compared to Japan's, which keeps the yen weaker. With the pair approaching a key resistance level, here’s a detailed trade plan to consider.
Trade Setup:
1. Entry Point:
- Enter a Buy (Long) Position** at 165.50
- Alternatively, if there's a pullback, consider entering near the support at 165.00.
2. Stop-Loss:
- Place a Stop-Loss at 164.50 to protect against a potential downside move, just below recent support levels.
3. Target (Take-Profit):
- Set your **Take-Profit target at 170.00, aligning with the next resistance level and current uptrend momentum.
Rationale:
- Trend: The EUR/JPY has strong bullish momentum, with price trading above key EMAs (10, 50, and 200-day), indicating continued upward potential.
- Indicators: RSI suggests overbought conditions, but the overall trend remains intact.
💬 Summary:
This trade plan capitalizes on EUR/JPY's bullish trend while managing downside risk. A break above resistance could bring significant gains. Use caution and adjust according to market movements.
*Disclaimer*: This plan is for educational purposes. Consult with financial experts before trading.
EURJPY DOUBLE SIDEReaching the uptrend limit and then a very high RSI, EURJPY will then proceed to fall ;
it will reach one of these KL, not sure which one, before regaining a low RSI and getting ready to go back up ;
some zigzag might be there as well when it reached the limit.
EURJPY Eyes Further Gains if Support HoldsHello,
FX:EURJPY is likely to see further upside if the 1D pivot point holds as support. If that level is sustained, additional gains are expected. Key resistance levels to watch are 166.067 and 170.505.
TradeWithTheTrend3344
EurJpy Trade IdeaLast pair I'm looking to get into is gonna be EJ. Price is still overall bullish with markets opening up with a higher low. We're still in between the higher low and higher high so we are in fact in a bullish range. My priority on this pair is to potentially catch a retest for some longs. I'll be looking to get into a 1:3rr trade on the pair. We'll see what happens. The set up is pretty simple.
EurJpy Trade UpdateI posted a EJ set up for long opportunities yesterday. Price ended up playing out to the T ! If you took the set up than your targets should've been smacked ! Price ended up breaking from the area I was currently looking at before getting the retest I wanted. Patience paid here ! I didn't take the set up since I was in NU shorts but EJ longs are still possible if price decides to break above and retest. If not then I would personally wait for price to come back down to the support before looking for any long opportunities.
EURJPY - LongLong setup on EURJPY. Just had our retrace on the impulsive move and now looking to buy again towards a daily liquidity level.
EURJPY Possible Long Position BBMA OA ReEntry Zone Zero Loss4H - Re-Entry
1H - 50 EMA Rejection + Bollinger Band
Rejection
15m - CSAK + Entry in MALO
Note:
* Cancel trade or cut-loss when candle close Below MAHI (2 Red Color Lines) in 4H
* 1:3 RRR
* TAYOR
A combination of multiple moving averages and Bollinger Bands is the BBMA OMA Ally strategy. It provides an extensive and reliable examination of market trends and patterns by utilizing the strength of both indicators. It is a multi-time frame analysis
I am using the BBMA OA Reentry Zone Zero Loss Strategy as a basic reaction to recent market events, rather than attempting to forecast the market's future course
EURJPY BUY? 2nd Chance SaloonA bullish trend in EUR/JPY indicates that the euro is strengthening against the yen. This movement can be influenced by several factors:
Economic Data: Positive economic indicators from the Eurozone, such as GDP growth or strong employment figures, can boost the euro.
Interest Rate Differentials: If the European Central Bank (ECB) signals potential rate hikes while the Bank of Japan (BoJ) maintains its low rates, it can lead to a stronger euro against the yen.
Market Sentiment: Increased risk appetite among investors may lead them to favor the euro, especially if they perceive the Eurozone economy as more stable or growing compared to Japan.
Geopolitical Factors: Any political or economic developments in Japan that create uncertainty could weaken the yen, further supporting a bullish EUR/JPY trend.
EURJPY Gears Up for a Fresh Rally Following Brief Pullback**EURJPY's Rally Prepares to Reignite After Brief Pullback Amid Political Shifts in Japan**
As the new week unfolds, JPY pairs have witnessed a robust surge, underscored by significant political developments in Japan that have reshaped investor sentiment. The surge in EURJPY aligns with a broader bullish movement across yen pairs, ignited by an unprecedented shift in Japan’s political landscape. The ruling Liberal Democratic Party (LDP) of Japan recently lost its majority in the lower house, marking a significant political setback after nearly 15 years of dominance. This unexpected shift reflects voter discontent with Prime Minister Shigeru Ishiba's administration, which has faced a series of scandals and controversies. The resultant political uncertainty has left no party in a clear position to take the helm of Japan's economic future, stirring uncertainty in the world's fourth-largest economy.
This political instability has pressured the Japanese yen, creating a tailwind for the EURJPY pair and other JPY crosses. With diminished confidence in Japan’s political leadership, the yen faces bearish pressure as investors brace for potential policy shifts and economic uncertainty. As a result, traders are pivoting toward the euro, supported by the eurozone’s relatively stable outlook in contrast to Japan’s uncertain political path.
**Technical Outlook: Key Levels and Potential Upside for EURJPY**
Technically, EURJPY has shown strong signs of resilience on shorter time frames, with an aggressive breakout recorded on the 60-minute chart. Overnight movements propelled EURJPY to 166.07, representing a decisive upward push and a break from the correction phase. The structure on the hourly chart currently indicates a normal correction, potentially setting the stage for a resumed bullish wave in the sessions to come.
If the bullish momentum continues to build, EURJPY’s path appears clear toward further highs, with immediate targets set at 166.40 and 167.40. These levels are key resistance points, and breaking above them could indicate a sustained upward trajectory, possibly driven by continued yen weakness and euro resilience. Traders should monitor these levels closely, as a break above 167.40 could open the door to new highs.
In summary, EURJPY’s outlook remains bullish, with technical and fundamental factors aligning to suggest potential gains. As Japan navigates an era of political uncertainty, the yen’s safe-haven appeal may be dampened, paving the way for EURJPY’s continued ascent. Investors should be vigilant for further price action around the 166.40 and 167.40 levels, which will provide essential cues on the pair’s next moves in this evolving landscape.
