Get started

Eurjpytrade

EURJPY, daily tf, sell on strong resistanceHello my friends, As you can see there is an inverted head and shoulders pattern in this pair. Price broken above the neckline and continue to shoot up without retesting those neckline. In my opinion, this impulsive movement will soon exhaust and get a correction because price just shoot above the neckline without retesting it. After marking our horizontal level support and resistance, we could start trading between those zones. Right now i think, price pretty much overbought and exhausted. It is shown by previous daily candle which was rejected from 126.45-126.75 resistance area. I think it is about time price retrace to retest those neckline at 125.00 area. I am going to sell this pair in order to capitalize this retracement. Sell EURJPY 126.45 Stop loss 126.85 Take profit 125.05 (3.5R) RR ratio 1 : 3.5 Use only 1-2% risk Good luck
Short
by HayatoDragonFX
EURJPY - The completion of the first uptrend from point iiiIn continuation of the analysis for this currency, and in the chart of 240 -minutes, the price has been able to reach the range of 126.65 with 5 ascending waves. Also, it has entered the corrective phase of this uptrend. Since the price is located in wave iii and from its sub-waves located in 2nd wave, we may probably encounter a short corrective movement and then the uptrend in 3rd wave. The intended range to complete this correction is 125.75 to 125.20, if it crosses the range, it can be extended up to the range of 124.30. As it can be seen in the picture, the range of 122.84 is a very important range, by crossing this range, we should think of the uptrend doubtfully.
Long
by NirmataFX
EURJPY 60 PIP SELLEURJPY showing great potential for a 60 PIP short. At the moment EURJPY is forming a flag pattern following from a strong bullish momentum. Price has reacted well within the pattern and i believe will find support for the third time before continuing its way up. Recently we have seen a rejection of the top trend line as well as an oversold condition on the RSI(10), with these factors combined it may allow price to have enough momentum to find support once more at the bottom trend line, hence why my TP is set at this point. Furthermore before forming new higher highs price may want to retest the neck line of the double top formed recently back in October. The intersection of both the bottom of this flag and this strong support zone is where i think price will test before continuing its way up allowing it to push for new higher highs. With a flag pattern like this before a strong bullish momentum we are most likely going to see it break to the upside. We currently dont have anything as of yet on the 200 EMA however if price breaks this i believe will further give it momentum to hit my target. TP is set at 60 PIPs and SL at 35 Pips
Short
by tradingonthego
How can you get RICH by EATING?Eat FORTUNE COOKIES Hahahaha. No before you rush out to your local Chinese and buy all the fortune cookies... This was just a joke! But i would like egg fried rice, chips and curry sauce please! You can see how price hit my blue resistance zone perfectly then bears pushed price down 140 pips, and you can see where i am expecting price to be pushed down to, my yellow support zone which is 75 pips away as i am looking for it to hit 123.000. When price hits 123.000 i will be looking to see how price reacts around that level as a break and retest of this level as resistance would produce more downside moves or a bounce from this support would produce more upside moves. Again you must be patient! If you have any questions or want to know more about the way i trade then please just message me.
Short
by Premier_FX