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Eurjpyforecast

EurJpy= Best place to buy for 1:5 R:RAfter the June high of around 1.34, EurJpy corrected and found strong support in 1.28 zone. October is a recovery month for this pair with the price rising back above 1.3 important figure Now the pair is in a minor correction of the recent leg up and I expect continuation to the upside 1.31 can be a good place to buy and long term traders can target 1.5 zone Recent 1.34 high can also be a good place for TP for shorter-term traders This scenario is negated if the price is closing under 1.2750
Long
by Mihai_Iacob
4
EURJPY | Perspective for the new week | Follow-up detailsWith over 400pips in the kitty from our last speculation on this pair (see link below for reference purposes); It appears that the correction of the Impulse leg has begun following the Breakdown of JY132.800 and JY132.300 level respectively. As the Euro runs out of steam against a potentially strong Yen from a short term perspective, the current position in the market is laced with some warning signals that proposes a near-term short position in the coming week(s). Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trendline | Reversal pattern (Head & Shoulder) Observation: i. Since mid-September 2021, the Euro recorded a 4.34% growth over the Yen to set the tone for a Bullish momentum in the long term. ii. And since hitting a peak @ JY133.500 during last week trading session, we witnessed a downward spiral that evolved into a Head & Shoulder look-a-like with an emphatic signal for a reversal. iii. Head & Shoulder: The appearance of a baseline with three peaks, where the outside two are close in height and the middle is highest reveal the possibility of the risk of a further decline in price in the coming week which could also be a correction of the Bullish momentum that began in September 2021. iv. With the recent Breakdown of the JY132.200 (a level that held price "supported" in the last 7 days) on Friday sets the pace for the Bears as confirmation of the Head & Shoulder pattern appears to be sealed! v. The early hours/days of the new week might see a price climb to test the Neckline of Reversal pattern @ JY132.300 or climb as far as JY132.800 which is within the New Supply niche identified on the chart to incite further decline. vi. Coupled with the Key level, the Bearish Trendline should serve as a yardstick to mitigate against taking an unnecessary short position in the coming week(s). vi. Please note that the Bearish narrative is believed to be a short term perspective aiming at a rejection of Neckline of the Double Bottom sighted on the Daily/Weekly time frame (see link below for previous publication in the link below for reference purposes) for a Bullish continuation hence it is appropriate that we stay on alert for unsuspecting Bullish incitation considering the facts that this is a long-term Bullish expectation ... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 180 pips. Risk/Reward : 1:5 Potential Duration: 2 to 5days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
EURJPY , Its time to sell Hello everybody In this chart , we have zone that support price to go up and now this zone changed to resistance and pullback to it and now its time to sell Another reason for take this sell position is the key ( Key : its the zone that can change the trend ) We are only positioning that follow the trend , the trend is downward and now we are only selling because of the trend change and have pullback , its time to sell Dont forget stop loss and save profit and risk free your position Good Luck Abtin
Short
by Abtin00
EURJPY IdeaG'day, Guys. Do you guys generate good profit so far? Today we going to analyse EURJPY (EURO vs JAPANESE YEN) also known as cross-currency pair. Basically, EURJPY (EJ) was rejected at a strong support level (128.009). Personally, I expecting the price gonna break the strong support level but at the same time, we have to watch out for hidden divergence that might build up in 4 hours time frame. Breaking descending resistance trendline, we have to change our perspective into long positions. My current decision is to wait for triple confirmation before making any trade on this pair. Let's see what gonna happen next. "Dance with the Market" Cheers
by EYFMarkets