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Japanese Yen/Euro

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JPYEUR trade ideas

EURJPY 170 BreakEURJPY at 170 is a Key Level and Decision Point for Price Action. We can see the last major Swing High was on 15th November 2023 at 164.20 , and Swing Low recorded on 7th December 2023 at 153. Since then price has rallied in an ascending channel to 175.50. The supporting trendline has been tested on multiple occasions, the 6th being last Thursday testing 170. Bullish Case 1. MAV - both the 100 and 200 averages are trending up, with wide separation. 2. Trendline - has not been broken. 3. Sentiment - most retail traders are short (70+ %). Bearish Case 1. Price - has moved up 22 points without a major correction to a major swing low. All pullbacks have been 4 points. 2. RSI - has moved below 50 3. Candlestick - in prior impulses the second day off the trendline has been a bullish candlestick. The last candle printed on Fri 19th was indecision. The question then lies in , will 170 hold for this pair.
by Umlingo
Is it time to sell EURJPY?!?Hello traders, I hope you're having a wonderful week this is LINKHIVE!! Lets dive deep into this trade. EUR has been bullish for quite a while now but after that that deep pullback I think EUR is going to fall. I don't trade any fundamentals but I do look at almost all Forex pairs and EUR is looking bearish ( also it's great friend GBP is looking quite bearish) Diving deep into the 2H we can see that beautiful round number at 172.000 . If you pay attention to the price action around that number you will see that we struggled to close below it but now that we closed below it we are now retesting with a flag. I've already shown you the higher tf and we all know that EURJPY is in a downtrend but for me to enter this trade I will wait for the breakout as indicated with the blue arrow. *Indicators* I have a few indicators that I use but for this trade the macD is good. I use default settings. A drop in momentum and divergence further validates our trades.
Short
by Linkhive001
Trade idea for EUR/JPYWhen we look at the chart we can see that the price is havind some trouble breaking a resistance zone. What I want to do now is trade and see it we could go short here. We do need to look for the price to first go back to the zone and then trade it of to the past low. This trade would be very low for me because there are some indicators that tell me that the price is not going to have a lot of trouble braking the zone. But let's have some fun and trade it.
Short
by MaBaCapital2
EURJPY Will Go Higher! Buy! Take a look at our analysis for EURJPY. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 171.611. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 172.674 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
2