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Japanese Yen/Euro

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JPYEUR trade ideas

Can EURJPY descend and break the range to downside?EURJPY in 4h timeframe is in range however the range is cause of weakness in momentum to upside to break the shadow and high on 27th september. I expect descending to break the range to lower levels however there is possibility to liquidity sweep to upside and start descending from the level I pointed. I risked 0.5% my exposure in this trade if it stops I will have short on the upper area with 1% or 1.5% it depends. Risk management is everything.
Short
by POUX
EURJPY Bullish Bat pattern: Forecasting an Upside moveHello traders, A number of harmonic patterns are surfacing today. Here is my analysis of a clear bullish Bat pattern spotted on the EURJPY Pair. The Bullish Bat pattern is a harmonic pattern used in technical analysis to predict potential reversal zones. The EURJPY pair has formed this pattern with the following parameters: X = 168.022 A = 170.293 B = 168.940 C = 169.976 D = 168.302 Here's the breakdown of the Fibonacci relationships for this pattern: AB Leg: Retraces 38.2% to 50% of the XA leg. Point B at 168.940 confirms this. BC Leg: Retraces 38.2% to 88.6% of the AB leg. Point C at 169.976 confirms this. CD Leg: Extends 161.8% to 261.8% of the BC leg or retraces 88.6% of the XA leg. Point D at 168.302 confirms this and is close to the 88.6% retracement of the XA leg. In summary, the points X, A, B, C, and D fit within the Fibonacci retracement and extension levels for a Bullish Bat pattern on EURJPY. This indicates a high probability of a bullish reversal at point D (168.302), which also qualifies as a good support zone for price. In addition, my Elliott Wave analysis suggests the pair has completed the corrective wave ABC to the downside. I'm anticipating an impulsive move to the upside towards 169.70 and 170.31. Let's watch out for confirming price action. Cheers and happy trading.
Long
by Samuel124
#EURJPY 1HEUR/JPY (1H) Analysis: Rectangle Support Pattern: EUR/JPY is forming a rectangle pattern on the 1-hour chart, with horizontal support acting as a strong base. The price has been bouncing between this support and a defined resistance, indicating consolidation within a range. The repeated tests of the support level suggest a strong area of buying interest. Forecast: BUY Currently, the price is near the lower boundary of the rectangle, presenting an opportunity to enter a buy trade. The rectangle support has held firm multiple times, signaling a potential bullish reversal from this level. A buy entry can be placed at or slightly above the support zone, targeting a move towards the upper boundary of the rectangle. Risk management can be employed by placing stop losses below the rectangle's support. Key factors to consider: - Clear rectangle support holding over multiple retests. - Potential for price to reverse and move toward the resistance. - Defined risk-to-reward with stops below the support and targets near the top of the range.
Long
by PIPSFIGHTER
Have you tried GannZilla? It changed me lifeGannZilla reads planetary positions in astrology and interprets them in relation to Gann's Square of 9, a geometric chart that helps traders identify potential price levels and market turns based on mathematical relationships. By aligning astrological events with the Square of 9, GannZilla aims to provide insights into market movements influenced by planetary cycles, helping traders make more informed decisions based on both astrological timing and Gann's theories.
Education
by Blayno_MTOPS
EUR/JPY Drops Ahead of Key Eurozone DataTechnical Analysis The EUR/JPY pair is trading within a triangle pattern on the hourly chart, with sellers currently pushing the price lower after a reversal from the upper boundary of the triangle. At present, the price has reached the first significant support level at 162.889. If the sellers succeed in breaking below this level, further downside targets are identified using Fibonacci retracement levels from the prior uptrend, with immediate support seen at 162.720, followed by 162.480, and finally 162.175, which marks the previous major support zone. The RSI (Relative Strength Index) remains below 50, currently around 40, indicating a bearish momentum with room for further declines before entering the oversold territory. The MACD (Moving Average Convergence Divergence) also confirms a bearish signal, as the MACD line is below the signal line and the histogram is negative, suggesting ongoing selling pressure. Additionally, price action is below the moving averages, adding to the overall bearish sentiment in the short term. The triangle pattern continues to dictate the current market direction. A sustained move below the lower boundary of the triangle would signify the continuation of the bearish trend, while a failure to break below would provide some relief for buyers.
Short
by Errante
Beware of Symmetrical Triangles. And yes, they occur oftenWhy Beware? Ambiguous Direction: Symmetrical triangles don't inherently indicate whether the breakout will be upward or downward. Without additional confirmation from volume or other technical indicators, predicting the direction can be challenging. Market Noise: In volatile markets, price movements within the triangle can be erratic, making it difficult to identify clear breakout signals amidst the noise. False Breakouts: Not every symmetrical triangle leads to a significant price movement. Sometimes, the breakout fails, resulting in a false signal that can trap traders in losing positions.
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Education
by Blayno_MTOPS
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