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EURJPY

EURJPY to find resistance at the current market level?EURJPY - 24h expiry We are trading at overbought extremes. Our short term bias remains negative. This is negative for sentiment and the downtrend has potential to return. We look to sell rallies. Weekly pivot is at 163.55. We look to Sell at 163.55 (stop at 164.05) Our profit targets will be 162.65 and 162.45 Resistance: 164.30 / 167.35 / 168.95 Support: 161.90 / 160.00 / 158.70 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
Bearish continuation expected EURJPY is rising toward pivot point that is close to 50% Fibonacci retracement. and could potentially fall to a support level. Alternatively, if price breaks above the pivot, it could continue to rise to the next resistance level Pivot: 163.42 Support: 162.53 Resistance: 164.41 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. 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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Potential bounce off EURJPY is falling toward a support level and could potentially bounce off a pullback support that aligns the 50% Fibonacci retracement and rises toward an overlap resistance Alternatively, if price breaks below the pivot, it could continue to fall to another overlap support level Pivot: 1162.53 Support: 161.87 Resistance: 163.42 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. 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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Potential reversal from overlap resistance levelPrice is currently at an overlap resistance level and could reverse from this level to our take profit Entry: 163.446 Why we like it: There is an overlap resistance level that aligns with the 38.2% Fibonacci retracement Stop loss: 164.364 Why we like it: There is a pullback resistance level Take profit: 162.661 Why we like it: There is a pullback support level that aligns with the 50% Fibonacci retracement Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
1
EURJPY 515 PIPS SHORT TRADE READ DISCRIPTION 1. **Bearish Setup and Reversal**: EUR/JPY is showing signs of a bearish setup and potential reversal. A fresh supply zone has been identified between 162.957 and 163.457, where investors, institutions, big players, and hedge funds are anticipated to initiate short trades in bulk. This zone serves as a significant area of resistance, suggesting a potential reversal in the pair's price movement. 2. **COT Data Analysis**: The Commitments of Traders (COT) data indicates a substantial bearish sentiment, with 443,000 short positions and only 180,000 long positions. This data suggests a significant imbalance in favor of short positions, reinforcing the potential for downward pressure on EUR/JPY. 3. **Trader Sentiments**: Trader sentiments show a strong bias towards shorts, with 78% of traders holding short positions and only 22% holding long positions. This sentiment aligns with the bearish outlook indicated by the COT data. 4. **Fundamental Analysis**: The fundamental analysis suggests that the Japanese yen is weakening after the Bank of Japan (BOJ) adopted a dovish tone, signaling expectations for further weakness. This news is likely to impact EUR/JPY negatively, supporting a bearish bias. 5. **Technical Analysis Indicators**: All trading indicators are signaling a strong sell sentiment, further supporting the bearish outlook for EUR/JPY. 6. **Trade Parameters**: - Risk-to-Reward Ratio: The risk-to-reward ratio for this trade setup is 24.73, indicating a potentially favorable risk-reward profile. - Take Profit Levels (TPs): Three take profit levels have been identified and marked with yellow horizontal lines. These levels provide traders with opportunities to scale out of their positions as the price moves in the desired direction. - Profit Target: The overall profit target for this trade is set at 515 pips, representing a significant potential profit. In conclusion, the technical, fundamental, and sentiment analysis collectively suggest a strong bearish outlook for EUR/JPY. The identified supply zone, coupled with the overwhelmingly bearish sentiment and supportive fundamental factors, presents a compelling opportunity for short trades. Traders should closely monitor the trade, adjusting their positions based on market dynamics and adhering to risk management principles.
Short
by MOAZAM1133
2
EURJPY I Potential intraday buy from support Welcome back! Let me know your thoughts in the comments! ** EURJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
EURJPY - 4hrs ( Sell Trade Target Range 200 PIP ) 💵Pair Name EUR/JPY Time Frame : 4 hrs Scale Type : line chart + Candle Stick ------ 🔗 Key Technical / Direction ( Short ) Type : Mid Term Swing —————————— Bearish Break 163.600 Area Reasons - Major Turn level - Fixed Range Hvn - Trend Break Out - Fibo Golden Break - Turn Over Trend Bullish Reversal 161.250 Area Reasons - Major Turn level / D - Trend Line Area - Choch ZOne - Pattern Target - Fixed Poc Area
Short
by GentleGoldenEngine
EURJPY,🟢Bullish scenarios🟢 As you can see, the price created equal highs defined as our final target. There are two possible scenarios. Personally, I prefer to see the price move lower once again, and after collecting the sell side liquidity get support from the mean threshold of the order block and the midway of the bullish daily FVG, then we can look for the LTF for entry. It's a high-probability scenario. The second scenario is a low probability, which is the price moves higher from here and leaves the sell side liquidity untouched. 💡Wait for the update! 🗓️25/03/2024 🔎 DYOR 💌It is my honor to share your comments with me💌
Long
by VahidTradingCR
3
EURJPY Will Grow! Long! Take a look at our analysis for EURJPY. Time Frame: 9h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 164.049. The above observations make me that the market will inevitably achieve 165.508 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
1
EURJPY Approaching Channel Up top. Bearish signal.The EURJPY pair is very close to our 168.000 Target that we set on our last analysis (December 13 2023, see chart below): That is at the top of the 2-year Channel Up that started on the March 07 2022 Low. Technically after that, it calls for a short-term trend-reversal. As a result we modify the bullish Target to 167.400 and then will go for a short-term sell, targeting 164.500. This is because we have identified a short-term RSI bearish divergence pattern, which when the RSI in on Lower Highs and the pair on Higher Highs (i.e. Bearish Divergence), the price rises to the 2.0 Fibonacci extension and then pulls back to the 1.0. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
Building The Case For The BIG Yen Reversal?? (Coming Soon)Unless you've been living under a rock the last few years you have seen the massive depreciation in the Japanese Yen against every other major currency pair in this post I'm going to share with you why I think the BIG reversal in fast approaching. This post is much like the post I did on the CHF at the beginning of the Year where I correctly predicted a major correction (see related post) where every single CHF pair had reached key higher timeframe support levels and buy zones at the same time. A similar story is occurring in the major JPY cross pairs also at the same time we have the BOJ finally ending negative rates and hinting of more possible rate hikes this Year whilst other central banks are talking about cutting rates with the SNB leading the race last week. First off is the USDJPY you can see on the Monthly chart where 152 is acting as a key resistance level that goes all the way back to 1990 this is a key technical level. Next is the GBPJPY I did a post on this last week about the likelihood of a sell off from the 193 Monthly resistance level (see image below) Then we have the AUDJPY which the 100 mark last week which is approaching a key resistance zone @101 above this zone has seen massive corrections in the past (see image below) Next is the NZDJPY which I done a post on several months ago showing you the importance of the 93 resistance and the likelihood of a correction from this level which the chart below shows we got a rally to here followed by a sell off. Next is the EURJPY which last week got the break above 165 before selling off shortly back below last years high of 164 the chart below shows 2 key resistance areas here @164 and @167 where we have seen massive sell offs before. As you can see all the major pairs are at or approaching key Monthly resistance levels and sell zones where there have been huge corrections from in the past. To me this is a massive correlation across all the major pairs and very much indicating that a change in the tide is coming very soon. This very much is mimicking exactly what happened with the CHF pairs this year. Will the same happen with the JPY pairs only time will tell but it's looking very good there are several ways to trade this build into sell positions across all pairs off course this can increase your risk exposure and off course swap fees or you can trade yen futures. Off course the timing of this reversal is the hard part as it's the Monthly charts could take several months to play out or more. And then there is the possibility that I am wrong and the YEN weakens more and all these major levels get blown out at the same time :) Let me know what you think in the comments :)
Short
by TheFxAce
8