🐂EUR/JPY LONGEUR/JPY Has been a ranging market for the most part.
Price has been ranging since May 2021.
this range turned to be a bullish flag, and price was in an uptrend in the weekly.
This gives us strong reason to long this market.
We recently broke out of the daily trendline and should look for continuations to the upside.
I expect price to retrace and respect previous resistance and let it become support, this is where we should look to long with our targets market in green.
OANDA:EURJPY
Eurjpylong
Next Week, Watching EURJPY going MOONHi,
Since last week I've made good points on US/CAD/OIL Market. I will be looking on a different zone.
I've study EXY and JPX , The past days, and the trend of the EURJPY makes sense imho.
I will enter a tiny position to get my FOMO out.
and will be updating on re entries during the week if I aint wrong.
This is not a entry advice or a trade advice but just a nice pair to watch next week.
If you have any other or same opinion lets share it !
Good luck at the opening ,
Carlos
EURJPY | DISTRIBUTION PHASE?EURJPY has been trading with bullish rising trendline as making higher highs and higher lows. The indicator suggestings bearish divergence on the chart. The current phase is a no trade zone and we have two possibilies out there;
a) Bearish Breakdown
b) Bullish Breakup
Trade your levels accordingly.
EURJPY LONGEURJPY has been moving in a down trend for serval day. Current price action suggests that the pair might be in for a short term bullish correction.
The patterns we spotted which are in line with our short term up trend basis include an inverse head and shoulders pattern in Daily and H4 time frames
with the H4 being the more clearer. We have also spotted a trendline breakout, close and retest followed by a change in market structure by the breakout,
close and retest of our key level. The target for this particular trade is around the 132.6**The risk reward for the trade currently stands at around 6.81 to 1.
We plan to hold this particular trade until out target is reach or close manually as per the rules of our trading plan.
EURJPY - Reverse TriangleAnalysis: EURJPY formed a few Double-Bottom (bull) price patterns that are nicley visible on the Monthly Chart.
More recently EURJPY has formed a Reverse Triangle consolidation pattern. Should this pair take out resistant levels between 130.00-135.00, it could literally blow the roof off, and go much higher.
That being said, we could possibly be in massive move in this pair.
EURJPYHey guys, hope yall had a profitable week
As you can see here on this EURJPY 1h chart, the price saw a stop-hunt higher time frame candle wick that is seen as a break of structure on the lower time frame, such as on this 1h chart, even though the price made a break of structure (BOS) to the downside, we are assuming that the price wants to up and make another higher high (HH), therefore, we decided to enter the trade long using the 5-minute demand zone in the lower area of recently made lower low. our target is the weekly candle wick or the two-hour supply zone
EUR/JPY is struggling to violate 23.6% Fibo retracement at 126.5
The RSI (14) is likely to find resistance near 60.00 amid the broader bearish picture.
The shared currency awaits a violation of 126.73 for upside momentum.
The EUR/JPY pair has remained in the grip of bears from February 10 after failing to breach its eight-month high at 133.50. The cross has sensed barricades near the trendline placed from the February 10 high at 133.15.
On a four-hour scale, EUR/JPY is struggling to overstep a 23.6% Fibonacci retracement, which is placed from February 10 high at 133.15 to March 7 low at 124.39. Usually, a struggle near 23.6% Fibo retracement denotes a fresh corrective wave after an impulsive one.
The 50-period and 200-period Exponential Moving Averages are trading at 127.15 and 129.10 respectively, which have recorded a bearish crossover, which adds to the upside filters.
Meanwhile, the Relative Strength Index (RSI) (14) has surpassed 40.00 after oscillating in a bearish range of 20.00-40.00. The ongoing oscillator action is indicating that the RSI (14) may find resistance near 60.00 and will trade lower or consolidate.
As the asset is hovering around the 23.6% Fibo retracement, it is likely to address significant offers if the asset tumble below Wednesday’s low at 126.12. This will grind the cross lower towards Tuesday’s low at 125.22 and Monday’s low at 124.39.
On the flip side, a bullish momentum can be observed if the pair climbs above Tuesday’s high at 126.73. A breach of 126.73 will send the cross towards the 50-EMA and 38.2% Fibo retracement at 127.15 and 127.80, respectively.
Attachments area
EURJPY LONG ZONESFor More Daily Detailed Analysis, Click on the follow button. If you have Any Questions, Please do ask them!
Here we have our EURJPY Chart..
We are looking short as price is rejected following the sharp bullish move to the upside. This comes as market sentiment starts to ease todays and the YEN is sold off.
We can look for an early exit at the comfortable support zone labelled.
EUR/JPY Trying To Close Above Our Res And Long Setup Available This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
EUR/JPY: DIVERGENCE AND PRICE READY TO GROW | LONG SETUPHello Everyone, I hope you'll Appreciate our Price action Analysis !
Our strategy is based on Swing trading with price action Analysis and Advanced Fibos tools.
Please support our page by hitting the LIKE 👍 button to this Idea and Follow us to get NEW ONE!
Feel free to request any pair/instrument analysis or ask any questions in the comment section below.
If you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this.
Have a Good Take Day_Profits !