Eurjpyprediction
EUR/JPY downtrend may accelerate furtherThe resistance area in the daily chart of EUR/JPY appears to be holding well.
We have got multiple rejection/bearish candles in the resistance area with long wicks
at the top.
This indicates that the sellers are gaining an upper hand while the bulls are losing momentum.
If this continues, EUR/JPY can drop as low as 128.
So, depending on bearish price action, sell EURJPY@129.80-130.30 with SL above 131
and TP at 128.15
EUR/JPY reversed from the resistance once again, time to drop?Overview - EUR/JPY has been unable to break the resistance level for the last
two weeks but bears have not been able to capitalize on it yet. However, yesterday's drop
seems encouraging for the bears.
Analysis - From the chart, you can see that, yesterday's daily candle was a big
bearish candle with a long wick at the top. So, it is quite likely that price will continue to
go down now.
Probable trade set-up - I have already published a signal to sell EURJPY@130.50-131
last week. So, if you followed it then continue to hold the trade. New sells can also be executed
if price visits the resistance level again.
Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be
executed only if it meets the required criteria.
EurJpy to rise to 132 resistance?EurJpy is in a clear uptrend for quite some time now and, from the beginning of the month the pair is consolidating gains just under 130 important figure.
In my opinion, this resistance will fall and EurJpy will rise to the next resistance at 132
That being said I will search for opportunities to enter long on dips around 129 support
A dive under 128 would negate this bullish scenario
EURJPY AnalysisAs we can see EJ is beginning to struggle to make HH and has formed a double top. Now we will let the market open of course and see which one of the 2 trades we will be taking.
Highlighted in green is of course the bullish trade I will be taking.
Highlighted in red is the possible bearish scenario we could trade on.
Let me know your thoughts on EURJPY below guys 8)
EURJPY SELL | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis for this pair.
Watch strong action at the current levels for SELL. GOOD LUCK! Great SELL opportunity EURJPY .
I still did my best and this is the most likely count for me at the moment.
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EURJPY SHORT TERM SELL, LONG TERM BUY ProjectionTechnical Analysis
1. Rising Wedge forming
2. Hit Level 1 of Fibonacci Expansion Level
3. Completion of a Flag Pattern Take Profit (Of the Flagpole breakout) on shorter timeframe smaller timeframes (Circled in WHITE)
4. Market is expected to break out of the trendline, hitting our Fibonacci Expansion Level of 1.618 which would push down the market to an area of confluence
5. Using the new Highest Point from the Fibonacci Expansion Level of 1.618 and Rising Wedge Peak, we would project the fall to the new Fibonacci Retracement Level
How I would approach this.
1. Sell to 127.150
2. Buy from 127.150 to 136.250
3. Sell from 136.250 to 124.270