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Eurjpylong

TEXT BOOK LTF PA EURJPY LONG FORECAST Q2 W21 D22 Y25TEXT BOOK LTF PA EURJPY LONG FORECAST Q2 W21 D22 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. Let’s see what price action is telling us today! 💡Here are some trade confluences📝 ✅Weekly 50 EMA ✅Daily 50 EMA ✅Tokyo ranges to be filled ✅Intraday 15' order block ✅Tokyo ranges to be filled 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Long
by JCFRGNT
EUR/JPY 1H: Bullish Falling Wedge Breakout + Target 🧠 Overview of the Setup The EUR/JPY currency pair has recently completed a Falling Wedge pattern, a classic and powerful bullish reversal formation. This chart structure typically signals the end of a downtrend and the potential beginning of a strong upward impulse. In this setup, multiple confluences point toward a bullish move, including pattern breakout, structure shift, retest of a dynamic support level, and alignment with major supply/resistance zones. 🔍 Pattern Analysis: Falling Wedge Definition: A falling wedge is a technical pattern formed by two downward-sloping trendlines — one representing resistance and the other support — that converge. It signals a slowdown in bearish momentum, often preceding a bullish reversal. Chart Observation: The wedge is well-defined, spanning several trading sessions. As price action tightened toward the apex, bearish momentum began to weaken. Breakout Trigger: Price broke convincingly above the upper wedge boundary, suggesting the start of a bullish reversal. ✅ Implication: The breakout confirms that buyers have taken control, especially as this move is supported by a structural Change of Character (CHOCH). 📈 Price Action Structure & Key Zones 1. Minor Resistance (Broken) After the breakout, price encountered a minor resistance zone just above the wedge. This area is now likely to flip into support (a classic breakout retest). 2. Major CHOCH (Change of Character) A CHOCH indicates a break in market structure — from lower highs and lower lows to higher highs and higher lows. The break above this level confirms a shift from bearish to bullish sentiment. 3. Curved Support (Black Min Curve) A rising curved trendline has formed below current price, acting as a parabolic support structure. This suggests not just a trend reversal, but increasing bullish momentum, as buyers step in at higher levels with each correction. 4. Major Resistance Zone (Target Area) Price Target: ~164.50 – 165.50 This zone has historically acted as strong supply and is marked for potential take-profit or observation for reversal signals. The target is derived from both horizontal resistance and the projected height of the wedge pattern. 🎯 Trading Strategy Component Details Entry Zone 162.50 – 162.60 (retest of minor resistance + curve support) Stop Loss Below 162.00 (beneath wedge and curve) Take Profit 164.50 – 165.50 (major resistance) Risk/Reward Approx. 1:2.5 to 1:3 🔸 Conservative Entry: Wait for bullish confirmation (bullish engulfing candle or pin bar) on the support retest. 🔸 Aggressive Entry: Market buy after confirmation of curve bounce or on lower timeframe bullish signals. 📊 Volume & Momentum Consideration Although volume isn’t shown on this chart, volume confirmation on the breakout would significantly strengthen the bullish bias. Look for: Increasing buy volume on breakout Lower sell volume on pullbacks Bullish divergence (if using RSI or MACD) ⚠️ Risk Management & Event Awareness Be cautious of unexpected JPY-related economic releases (e.g., BOJ announcements, inflation data) that may cause volatility. If the curved support is broken decisively, this could invalidate the setup, suggesting further consolidation or downside risk. 🧠 Psychological Perspective The Falling Wedge reflects a market where sellers are gradually losing control — pushing price lower, but with less conviction. As the wedge tightens, bulls prepare to step in. The breakout confirms that sentiment has shifted, and many traders use such setups as entry points for swing or momentum trades. The curved support line suggests a transition from accumulation to markup phase, which typically leads to faster price expansion as confidence in the uptrend grows. ✅ Summary ✅ Pattern: Falling Wedge (Bullish) ✅ Breakout: Confirmed with CHOCH ✅ Support: Curve trendline acting as dynamic support ✅ Target: 164.50 – 165.50 major resistance ✅ Bias: Bullish (until curve support is broken) 📣 Final Thoughts This is a high-probability bullish continuation setup backed by price structure, pattern breakout, and support alignment. The risk is well-defined, and reward potential is strong — making this a favorable setup for swing traders or short-term position traders. 💬 Let me know what you think in the comments — are you going long EUR/JPY? 👍 Like and Follow for more setups and breakdowns.
Long
by GoldMasterTrades
EUR/JPY Long Setup – Bullish Reversal from Key Support Zone Entry Point: 162.227 Stop Loss: 161.629 Take Profit (Target): 166.778 Current Price: ~162.798 Risk/Reward Ratio: Risk: ~60 pips Reward: ~455 pips Risk/Reward ≈ 1:7.6 (strong setup) 🔍 Technical Insights Support Zone: The purple rectangle around 162.227 to 162.000 is identified as a key demand zone or support area. Price has tested this zone previously and appears to be bouncing off it. Price Structure: The pattern suggests a potential double-bottom or reversal structure forming. A rounded recovery projection is drawn, implying bullish momentum is expected. Moving Averages: A red (shorter period) moving average is crossing below the price. A blue (longer period) moving average near the support zone could act as dynamic support. Target Area: 166.778 marks a clear resistance or prior high and is labeled as the “EA Target Point”. This is a logical profit-taking zone based on past price action. ✅ Bullish Trade Bias Justification Strong support reaction near entry. Favorable risk/reward ratio. Reversal pattern potential. Confluence with moving average support. ⚠️ Considerations Ensure confirmation from a bullish candle or reversal signal before entry. Be mindful of macroeconomic events or EUR/JPY fundamentals that might impact volatility.
Long
by EA_GOLD_MAN_COPY_TRADE
19
EUR/JPY Short🎯 Trade Setup Plan 👇 Aggressive Entry (Riskier) Sell Limit: 164.90 SL: 165.90 TP1: 160.00 TP2: 157.00 TP3 (optional): 155.00 Use this only if you want to catch the wick, but recognize the higher chance of being swept. ✅ Conservative Entry (Recommended) Wait for a daily candle close under 162.00 after touching 164. That confirms rejection. Entry: On next day’s minor retest (e.g., 162.50–163.00) SL: 165.50 (above recent highs) TP1: 160.00 TP2: 157.00 TP3: 155.00 Risk: 1–2% depending on confirmation strength 📌 Optional Breakout Plan (In case resistance breaks cleanly) Buy Stop: 165.60 SL: 164.30 TP: 170.00 (weekly resistance) Use only if a strong daily close above 165 confirms breakout.
Short
by tradercat2025
EURJPY Short Term Buy Idea Update!!!Hi Traders, on March 27th I shared this idea "EURJPY - Expecting The Price To Bounce Higher Further" Expected bullish continuation higher until the two Fibonacci support zones hold. You can read the full post using the link above. Price moved as per the plan here!!! Price respected the second Fibonacci support zone and bounced higher. If you enjoy this idea, don’t forget to LIKE 👍, FOLLOW ✅, SHARE 🙌, and COMMENT ✍! Drop your thoughts and charts below to keep the discussion going. Your support helps keep this content free and reach more people! 🚀 -------------------------------------------------------------------------------------------------------------------- Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by VladimirRibakov
Mid Term Short on EURJPYIn the short term, I predict a bounce back to the trendline as we sweep some liquidity around this current location. If/When we break the 155 support, we will hit a minimum of 140 and even lower. This is an idea. If you agree with the fundamentals of the chart you can follow my trade. Short-term target with price reversal from 1.55 Target 1 - 159 Target 2 - 161.500 (I will look for a reversal and short from this location) Price target with price breaking below 1.55 support zone Short Term Target - 140 Mid Term Target - 135
Short
by SuperiorJG
Setup of the Week: EURJPY Long Toward LiquidityI'm currently watching EURJPY for a potential long setup. Price is showing signs of bullish structure, and there’s a clean upside target sitting at 164.20, where equal highs rest on the weekly chart. That level also ends in a .20—an institutional number often used for stop placement—which adds confluence that price may be drawn toward it. Why I'm Bullish The Euro is showing strength across the board this week, supporting directional alignment. Structure is starting to build bullish pressure, especially as price grinds upward toward liquidity. We have weekly equal highs at 164.20, which is a clear magnet. (zoom out) This setup is pretty straightforward: I’m anticipating that price wants to make a move toward those untouched highs. No extra complexity needed. Recent Price Action Looking at structure from April 9th: Price sold off, took out a daily low, and then reversed sharply—classic manipulation and reclaim. The idea is that smart money will need to close those sell orders out if price returns to that zone. The April 9th move down into 160 created what I believe is an institutional footprint. This move took out liquidity, reversed hard, and left behind a zone I expect to be defended. On Sunday’s weekly open, price quickly ran last week’s high, then reversed hard during the Tokyo session—a likely short-term trap. This tells me we might see some short-term bearish pressure before a larger move up, which is fine since I want price to return to the institutional buy zone around 160.00–160.30. 📍 Key Levels Buy Zone: 160.00–160.30 This is where volume flooded in to drive the initial bullish manipulation move. If price returns, I expect heavy buying interest to step in. Trap Confirmation: 162.80 During London open today, price ran a low, then reclaimed a high, and retested 162.80—another institutional level (ends in .80). That area acted as a trap and likely marked the start of the move down. We should see price stay under this move for this idea to work. Target: 164.20 That’s the weekly equal high. Liquidity sits above there. If we return to the buy zone and bulls step in, I’ll be looking to ride the move up into that level. Summary I’m looking to long EURJPY on a retracement into 160.00–160.30, ideally after a stop hunt or false breakdown into that zone. The goal is to ride the volume push up toward the weekly target of 164.20, where stops likely sit from early sellers who might take a trendline break trade. If price respects the London trap at 162.80 and moves lower, I’ll be watching closely for reaction and confirmation in the buy zone. Let me know your thoughts below or if you're watching the same levels.
by elevatedinvestor
EURJPY Short Term Buy Idea Update!!!Hi Traders, on March 27th I shared this idea "EURJPY - Expecting The Price To Bounce Higher Further" Expected bullish continuation higher until the two Fibonacci support zones hold. You can read the full post using the link above. Price is moving as per the plan!!! Price respecting the second Fibonacci support zone and bounces higher. My bullish view still remains. If you enjoy this idea, don’t forget to LIKE 👍, FOLLOW ✅, SHARE 🙌, and COMMENT ✍! Drop your thoughts and charts below to keep the discussion going. Your support helps keep this content free and reach more people! 🚀 -------------------------------------------------------------------------------------------------------------------- Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by VladimirRibakov
EUR/JPY "The Yuppy" Forex Bank Heist Plan (Swing/Day)🌟Hi! Hola! Ola! Bonjour! Hallo! Marhaba!🌟 Dear Money Makers & Robbers, 🤑 💰💸✈️ Based on 🔥Thief Trading style technical and fundamental analysis🔥, here is our master plan to heist the EUR/JPY "The Yuppy" Forex Market. Please adhere to the strategy I've outlined in the chart, which emphasizes long entry. Our aim is the high-risk ATR Zone. Risky level, overbought market, consolidation, trend reversal, trap at the level where traders and bearish robbers are stronger. 🏆💸"Take profit and treat yourself, traders. You deserve it!💪🏆🎉 Entry 📈 : "The heist is on! Wait for the MA breakout (164.000) then make your move - Bullish profits await!" however I advise to Place Buy stop orders above the Moving average (or) Place buy limit orders within a 15 or 30 minute timeframe most recent or swing, low or high level. 📌I strongly advise you to set an "alert (Alarm)" on your chart so you can see when the breakout entry occurs. Stop Loss 🛑: "🔊 Yo, listen up! 🗣️ If you're lookin' to get in on a buy stop order, don't even think about settin' that stop loss till after the breakout 🚀. You feel me? Now, if you're smart, you'll place that stop loss where I told you to 📍, but if you're a rebel, you can put it wherever you like 🤪 - just don't say I didn't warn you ⚠️. You're playin' with fire 🔥, and it's your risk, not mine 👊." 📍 Thief SL placed at the recent/swing low level Using the 4H timeframe (161.000) Day / swing trade basis. 📍 SL is based on your risk of the trade, lot size and how many multiple orders you have to take. 🏴‍☠️Target 🎯: 167.000 (or) Escape Before the Target 🧲Scalpers, take note 👀 : only scalp on the Long side. If you have a lot of money, you can go straight away; if not, you can join swing traders and carry out the robbery plan. Use trailing SL to safeguard your money 💰. EUR/JPY "The Yuppy" Forex Market Heist Plan (Swing / Day Trade) is currently experiencing a bullishness,., driven by several key factors.👇👇👇 📰🗞️Get & Read the Fundamental, Macro, COT Report, Quantitative Analysis, Sentimental Outlook, Intermarket Analysis, Future trend targets..., go ahead to check 👉👉👉🔗 ⚠️Trading Alert : News Releases and Position Management 📰 🗞️ 🚫🚏 As a reminder, news releases can have a significant impact on market prices and volatility. To minimize potential losses and protect your running positions, we recommend the following: Avoid taking new trades during news releases Use trailing stop-loss orders to protect your running positions and lock in profits 💖Supporting our robbery plan 💥Hit the Boost Button💥 will enable us to effortlessly make and steal money 💰💵. Boost the strength of our robbery team. Every day in this market make money with ease by using the Thief Trading Style.🏆💪🤝❤️🎉🚀 I'll see you soon with another heist plan, so stay tuned 🤑🐱‍👤🤗🤩
by Thief_Trader
EUR/JPY Falling Wedge Breakout | Bullish Potential Ahead🔍 Chart Overview: EUR/JPY – Daily Timeframe This chart illustrates the price action of the Euro against the Japanese Yen and highlights a Falling Wedge Pattern developing over several months. This is a classic bullish continuation/reversal setup, supported by key technical levels. 📐 1. Chart Pattern: Falling Wedge A falling wedge is a bullish chart pattern that occurs when the market consolidates between two downward-sloping trendlines. Characteristics Seen in the Chart: Converging Trendlines: The upper (resistance) and lower (support) boundaries are both sloping downward, indicating a narrowing price range. Volume (not shown) usually decreases during the formation, followed by a surge on breakout. Multiple Touch Points: The price action respects both boundaries multiple times, confirming the pattern's validity. 🏛️ 2. Key Levels ✅ Support Level (Demand Zone): Marked around 156.000 – 158.000 Multiple bounces from this area, indicating strong buying interest. Aligned with the lower wedge trendline and historical price reaction zones. 🚫 Resistance Level (Supply Zone / Breakout Zone): Around 164.500 – 166.000 Price repeatedly failed to break this level, confirming it as a strong supply area. Confluence of horizontal resistance and the upper wedge boundary. 📊 3. Trade Setup 💼 Entry Strategy: Confirmation Buy: Enter a long position upon a daily candle close above the wedge resistance (around 166.000). Aggressive traders may consider an earlier entry near the wedge’s support with a tight stop. 🎯 Target: The projected target is 172.962, calculated based on the height of the wedge pattern added to the breakout point. This aligns with a previous swing high area, serving as a logical profit-taking zone. 🛑 Stop Loss: Positioned at 155.576, just below the key support zone. This allows the trade room to breathe while protecting against a full pattern failure. ⚖️ 4. Risk Management Risk-to-Reward Ratio (RRR): Target around 172.962 and Stop Loss at 155.576 offer a favorable RRR of approximately 2.5:1 or more, depending on entry. Position Sizing: Use appropriate lot size based on your account risk tolerance (e.g., 1-2% of equity per trade). 📅 5. Timeframe Outlook Medium to Long-Term Setup: Since this is a daily chart, the trade may take weeks to months to fully play out. Patience and proper trade management are essential. 🔎 6. Additional Notes Retest Opportunity: If price breaks out, look for a retest of the resistance zone as new support before continuation to the upside. Fundamental Factors: Keep an eye on EUR and JPY economic data, ECB and BoJ policy announcements, and global risk sentiment, which can influence the pair. 🧭 Professional Takeaway This is a textbook bullish falling wedge pattern within a well-defined technical structure. The chart provides: A clear pattern breakout level, Strong historical support/resistance zones, A defined risk management plan, And a realistic price target based on technical projection. If you are a swing trader or position trader, this setup offers a high-probability opportunity with favorable risk-reward dynamics—provided a breakout is confirmed.
Long
by GoldMasterTrades
EUR/JPY "The Yuppy" Forex Bank Heist Plan (Scalping / Day Trade)🌟Hi! Hola! Ola! Bonjour! Hallo! Marhaba!🌟 Dear Money Makers & Robbers, 🤑 💰💸✈️ Based on 🔥Thief Trading style technical and fundamental analysis🔥, here is our master plan to heist the EUR/JPY "The Yuppy" Forex Market. Please adhere to the strategy I've outlined in the chart, which emphasizes long entry. Our aim is the high-risk Red Zone. Risky level, overbought market, consolidation, trend reversal, trap at the level where traders and bearish robbers are stronger. 🏆💸"Take profit and treat yourself, traders. You deserve it!💪🏆🎉 Entry 📈 : "The heist is on! Wait for the MA breakout (163.000) then make your move - Bullish profits await!" however I advise to Place Buy stop orders above the Moving average (or) Place buy limit orders within a 15 or 30 minute timeframe most recent or swing, low or high level. 📌I strongly advise you to set an alert on your chart so you can see when the breakout entry occurs. Stop Loss 🛑: Thief SL placed at the recent/swing low level Using the 30 mins timeframe (161.500) swing trade basis. SL is based on your risk of the trade, lot size and how many multiple orders you have to take. 🏴‍☠️Target 🎯: 166.000 (or) Escape Before the Target 🧲Scalpers, take note 👀 : only scalp on the Long side. If you have a lot of money, you can go straight away; if not, you can join swing traders and carry out the robbery plan. Use trailing SL to safeguard your money 💰. EUR/JPY "The Yuppy" Forex Market Heist Plan (Scalping / Day Trade) is currently experiencing a bullishness,., driven by several key factors. 📰🗞️Get & Read the Fundamental, Macro, COT Report, On Chain Analysis, Sentimental Outlook, Intermarket Analysis, Future trend targets.. go ahead to check 👉👉👉 📌Keep in mind that these factors can change rapidly, and it's essential to stay up-to-date with market developments and adjust your analysis accordingly. ⚠️Trading Alert : News Releases and Position Management 📰 🗞️ 🚫🚏 As a reminder, news releases can have a significant impact on market prices and volatility. To minimize potential losses and protect your running positions, we recommend the following: Avoid taking new trades during news releases Use trailing stop-loss orders to protect your running positions and lock in profits 💖Supporting our robbery plan 💥Hit the Boost Button💥 will enable us to effortlessly make and steal money 💰💵. Boost the strength of our robbery team. Every day in this market make money with ease by using the Thief Trading Style.🏆💪🤝❤️🎉🚀 I'll see you soon with another heist plan, so stay tuned 🤑🐱‍👤🤗🤩
Long
by Thief_Trader
EURJPY Weekly Forecast: Triple Bottom Breakout & Bullish Target Overview of the Chart & Market Structure The EUR/JPY daily timeframe chart presents a Triple Bottom Pattern, a powerful bullish reversal formation that suggests a potential shift in market sentiment. This pattern occurs when price tests a key support level three times and fails to break lower, indicating strong buying interest at that zone. Historically, a Triple Bottom leads to a significant trend reversal as sellers lose strength and buyers gain control. If confirmed by a breakout above resistance, this setup could provide a high-probability trading opportunity for swing traders and position traders. Key Chart Components & Price Action Analysis 1. Triple Bottom Formation The three bottoms marked on the chart represent repeated failed attempts by sellers to push the price lower: Bottom 1 (August 2024): The first rejection from the support zone (~155.000) led to a temporary bounce. Bottom 2 (October 2024): Price retested the same level, but buyers stepped in again, preventing a breakdown. Bottom 3 (March 2025): The final test of support confirmed a strong accumulation zone, setting the stage for a potential bullish breakout. In technical analysis, a Triple Bottom is considered a stronger reversal signal than a Double Bottom, as it represents prolonged buying pressure at key levels. 2. Support & Resistance Levels Support Zone (~155.086): This level has been tested multiple times and remains a solid demand zone, where buyers have consistently entered the market. Resistance Zone (~166.000): This level represents the neckline of the pattern, which must be breached to confirm a bullish reversal. Breakout Target (~179.233): If price breaks out above 166.000, the projected target is set at 179.233, based on the height of the Triple Bottom pattern. Trading Strategy & Entry Plan 1. Entry Point – Waiting for Confirmation A buy trade should be initiated ONLY after a confirmed breakout above the resistance level (~166.000). Traders should wait for a daily candle close above this level, preferably with high volume, to confirm the breakout. 2. Stop Loss Placement A stop-loss should be placed below the third bottom (support level) at 155.086 to minimize risk. This placement ensures that if price invalidates the pattern by moving below the support level, the trade is exited early. 3. Profit Target Calculation The measured move technique is applied to estimate the target. The height of the pattern (distance from support to resistance) is projected upward from the breakout point. Target price: 179.233, aligning with historical resistance. 4. Risk-to-Reward Ratio & Position Sizing The risk-to-reward ratio (RRR) for this setup is favorable, making it an attractive swing trade opportunity. Traders should adjust position sizes based on risk tolerance, ensuring proper money management principles are applied. Additional Confirmation Factors 1. Volume Analysis A breakout with increasing volume will confirm strong bullish momentum. Weak volume during breakout could indicate a false breakout, requiring caution. 2. RSI & Momentum Indicators RSI trending above 50 suggests growing bullish strength. Bullish divergence on RSI or MACD would add further confidence to the trade. 3. Retest of Resistance as Support Often, after breaking resistance, price retests the breakout level before moving higher. This could offer a secondary entry opportunity for traders who miss the initial breakout. Potential Risks & Market Conditions to Watch False Breakouts – If price fails to sustain above resistance, the pattern could be invalidated. Macroeconomic Events – Major news events, such as ECB or BOJ policy decisions, could impact EUR/JPY movement. Geopolitical Uncertainty – Unexpected events may cause volatility and deviation from technical patterns. Conclusion – High-Probability Bullish Setup The Triple Bottom Pattern in EUR/JPY is shaping up as a strong bullish reversal setup. If the price successfully breaks above 166.000, a rally toward 179.233 is expected. 📌 Trading Plan Recap: ✅ Entry: Buy above 166.000 (confirmed breakout). ✅ Target: 179.233 (measured move projection). ✅ Stop Loss: 155.086 (below support). ✅ Risk-Reward Ratio: Favorable for swing traders. This setup aligns well with technical and price action strategies, making it an attractive trade idea for the upcoming weeks.
Long
by GoldMasterTrades
EURJPY - Expecting The Price To Bounce Higher FurtherH4 - Bullish trend pattern in the form of higher highs, higher lows structure Strong bullish momentum Expecting retraces and further continuation higher until the two key Fibonacci support zones hold. If you enjoy this idea, don’t forget to LIKE 👍, FOLLOW ✅, SHARE 🙌, and COMMENT ✍! Drop your thoughts and charts below to keep the discussion going. Your support helps keep this content free and reach more people! 🚀 -------------------------------------------------------------------------------------------------------------------- Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by VladimirRibakov
EURJPY Setup IdeaLooking for a long entry, limit order set.... Here is my logic from left to right: we have an short term "double top" forming inside a higher time frame up trend, I'm looking for a run on the stops of traders going short. We found support at a bullish liquidity pocket (bottom red spot) = Bullish sign Price completed a bullish harmonic (that grey double top structure is a harmonic) = Bullish sign Price gave me entry signal with H1 break of structure (blue zone) = Bullish sign We have equal lows sitting just above the blue line (X's) = Bullish sign My target is the next red zone even though im projecting this pair to go much higher. Earlier this week in my newsletter, I gave two zones to look for buy reactions in for EURJPY. (the huge purple zone on the left, and the bottom red zone within it which currently has a +75 pip reaction.) Feel free to check it out, the link is in my post signature, and profile bio. Cheers 🍻
by elevatedinvestor
EUR/JPY Triple Bottom Breakout – Bullish SetupThis chart represents the EUR/JPY currency pair on the daily timeframe. It highlights a Triple Bottom pattern, a bullish reversal formation that signals a potential upward trend after testing strong support multiple times. 1. Chart Pattern Analysis – Triple Bottom Formation The Triple Bottom is a classic reversal pattern that forms after a downtrend and consists of three distinct lows at nearly the same level. This indicates that sellers attempted to push the price lower but failed three times, suggesting that buying pressure is increasing. Bottom 1 (August 2024): The price reached a low near 150.344, forming the first support zone. Bottom 2 (September 2024): The price dropped again to the same support level but bounced back, indicating strong demand. Bottom 3 (March 2025): The price retested the support for the third time and rebounded, confirming the pattern. 💡 Key Takeaway: The repeated failure to break below the support level suggests that sellers are losing control, and buyers are preparing for a strong move up. 2. Support & Resistance Levels Understanding support and resistance levels is crucial for identifying entry and exit points: Support Level (150.344 - 150.125): This zone has acted as a strong demand area where price consistently bounced back. Resistance Level (167.500 - 170.000): This is the neckline of the Triple Bottom pattern. A breakout above this level confirms the bullish trend. If the price breaks above the resistance level, it will trigger buying momentum and open the doors for further upside. 3. Trading Strategy & Price Targets ✅ Entry Criteria The ideal buy entry is after the price breaks above the resistance level (~167.500 - 170.000) with strong bullish momentum and increased volume. Wait for a daily candle close above the resistance level to confirm the breakout. 🎯 Target Levels (Take Profit - TP) TP1 (173.001) – First profit-taking level, as the price may encounter some resistance. TP2 (179.266) – Final bullish target if the breakout holds strong. 📉 Stop Loss (Risk Management) Stop Loss (SL): Below 150.125, just below the previous support level. This minimizes losses if the price fails to break out. Risk-to-Reward Ratio: This setup offers a high risk-reward ratio, making it a favorable trade. 4. Market Psychology & Confirmation Signals The Triple Bottom indicates a strong shift in market sentiment from bearish to bullish. Confirmation signals to watch for: ✅ Bullish breakout above resistance ✅ Increase in trading volume ✅ Formation of bullish candlesticks (e.g., Engulfing, Marubozu, or Breakout Retest Confirmation) 5. Summary & Final Thoughts 🔹 The Triple Bottom pattern signals a strong reversal with clear upside potential. 🔹 The breakout above resistance (~167.500 - 170.000) will confirm a bullish trend. 🔹 Entry: Buy after breakout confirmation with volume support. 🔹 TP1: 173.001, TP2: 179.266 🔹 SL: Below 150.125 to protect capital. 🚀 Conclusion : This setup presents an excellent long opportunity with a well-defined risk-reward strategy. If the breakout holds, EUR/JPY could see a strong uptrend in the coming weeks.
Long
by GoldMasterTrades