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Eur-jpy

EURJPY can move further low? 🦐EURJPY on the 4h chart has tested the 0.618 Fibonacci after the recent highs. The price is now testing the lower structure over the 0.382 level. How can we approach this scenario? We will wait for the market to break below the area and In that case I will set a nice short order according to the Plancton's academy rules --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
10
EURJPY 4hour Analysis May 1st, 2022EURJPY Bearish Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bearish Trade scenario 1: We’re looking bearish on the 4hour! Good news to use as EJ is due for a pullback on the higher timeframes. Ideally, price action continues with 4hour bearish volume and forms a lower high below 137.000 that we can enter on. Look to target lower toward 135.500 support. Trade scenario 2: If we are to consider EJ bullish again we would need to see a higher low above 137.000.
Short
by ForexLeague
EURJPY 4hour Analysis April 17th, 2022EURJPY Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Consolidating Trade scenario 1: We are still bullish on EJ and price action has formed an ascending triangle near 137.000 resistance. How price action reacts at 137.000 will determine where we look for trades. The most likely scenario is price action breaking 137 and forming structure above. Trade scenario 2: If we are to consider EJ bearish we need to see a break of the most recent 4hour higher low and this pattern. Look to enter short on lower highs and target toward 135.500
Long
by ForexLeague
EURJPY Bull Flag done. Targeting $139.00.The EURJPY pair has broken above its Bull Flag this week. That was a pattern coming off the incredible 10% rise since the March 07 bottom that broke above its Bearish Megaphone pattern. The 1D MACD topped and made a Bearish Cross. The last time we saw the very same set of conditions was during the strong rise of May 2020 that led to the June 2020 Bull Flag. That was in the aftermath of the COVID market crash 2020. This time it another set of strong macro events that led to this rise, the Ukraine - Russia war and inflation. Also in both fractals, a 1D Golden Cross was formed (when the MA50 (blue trend-line) crosses above the 1D MA200 (orange trend-line). In September 2020, the price action following the Bull Flag topped on the 1.5 Fibonacci extension. This time, the next available Fib extension is the 3.0 at 139.845. We are targeting just below that at $139.00. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Long
by TradingShot
6
Today’s Notable Sentiment ShiftsEUR – The single currency strengthened across the board on Monday after French President Macron won the first round of France’s elections. Commenting on EUR’s performance, however, Wells Fargo warns that “it’s going to be hard for the euro to really get more upside traction until the event risk fully passes.” Indeed, the next round of France’s election will take place on April 24th and “promises to be a very tightly fought presidential election runoff,” according to Reuters.
by thunderpips
1
EURJPY 4hour Analysis April 10th, 2022EURJPY Neutral Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Ranging Trade scenario 1: Overall EJ is bullish on the higher timeframes but we can clearly see price action is in a 4hour range at the moment. Currently there is no trend on the 4hour so we will have to wait for one. Ideally, we see price action break resistance around 135.500 with a higher low above. Look to target higher toward 137.000 resistance if this happens. Trade scenario 2: For us to consider EJ shorts we need to see a bearish break of 134.550 support with a lower high below.
by ForexLeague
EURJPY Might Have Peaked. Price Might Range 135.00 - 125.00!EURJPY pushed higher with strong impulse last month after going all the way lower towards 125.000 psychological support and rejecting it. The current impulse was very intense until it tested the resistance that was present at 137.000 area and rejected it. This rejection was accompanied by the monthly candle closing beneath the key psychological resistance at 135.000. At this moment the price remains in a strong uptrend on the weekly charts as evident by the ascending long term weekly channel. Since the price rejected the 137.000 resistance and M candle closed below 135.000 resistance, it could likely mean that the price might reverse and start heading lower gradually. Fundamentally, the EURO is the weakest major currency at the moment due to the ongoing conflict and the YEN has depreciated considerably against most major currencies due to the bank of japan monetary policy outlook. The bank of Japan might likely intervene in the markets to prevent the YEN sliding further. These two factors would likely mean that the EURJPY might have tested its high at 137.000 and now would be looking to head lower primarily driven by the EURO weakness. Coming back to the technical part, last month's impulse was so strong that its failing to provide any technical short term outlook for the EURJPY. However at the 125.000 psychological support, we can see that if its breached (Monthly candle closing below 125.000) then the price would likely resume heading lower towards the 122.000 support. This breach in turn would also violate the long term ascending weekly channel. Therefore patience is required while trading EURJPY on weekly and daily time frames. On the Flip side, if EURJPY were appreciate more, which would be unlikely given the current fundamental state, it faces multiple resistances unless it manages to clear the 140.000 psychological level after which the path to 145.000 is open to be tested. In conclusion, we can expect a gradual range trading for EURJPY between 135.000 & 125.000 in the coming weeks. If 125.000 is violated based on current technical picture then we can take this pair short towards 122.000. Cheers, I hope you find this insight helpful. Please LIKE & FOLLOW for more insight on Major & Minor currency pairs.
Short
by FX618Analysis
EURJPY potential for pullback! | 1st April 2022Prices are at a pivot. We see the potential for a short from our sell entry at 136.492 in line with 138.2% Fibonacci extension towards our Take Profit at 133.087 in line with 38.2% Fibonacci retracement. RSI is on bearish momentum, further supporting our bearish bias. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by Rockqet
EURJPY - FUNDAMENTAL AND TECHNICAL VIEW- ECB PRESIDENT Lagarde has a SPEAK. There are some positive technical points for MARKET RISK OFF and JPY to be a bit STRONG right now. The reason is that JAPANESE YEN DOWN is very fast right now. So a PULLBACK may come at some point. - The EUR FEATURE currently stands at 1.1147 LEVEL. It rests on DYNAMIC S / R LEVELS. Also the JPY FEATURE is giving DOWN very fast. It stays at 0.0082 LEVEL. The EURJPY PRICE is above the DYNAMIC S / R LEVELS. The reason for that is the WEAKNESS that happened in JPY. So most of the time the PRICE can be UP again in the form of a STRUCTURE. - Currently the OVERALL MARKET is RISK OFF. Also STOKES are turning slightly red. VIX is getting a bit DOWN. Also COMMODITIES show a slightly UP SIDE BIAS. Currently there is a NEUTRAL BIAS on the market side. - EURJPY PRICE can PULLBACK and DOWN until it is slightly lower than DYNAMIC LEVELS. (131.30) - The EURJPY PRICE can be UP to 139.173 LEVEL before DOWN. Then you can DOWN to 131.477 LEVEL. The PRICE will move according to this week's ECONOMIC INDICATOR DATA and MARKET SENTIMENT. The next few days can be a bit important.
by benny_marshall
1