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Eurjpylong

EURJPY ForecastWe have two potential scenarios for the EURJPY. Unfortunately, none of them will give is a good trading opportunity in the short term. Scenario A The corrective cycle that started in October 2022 is not over, and we will see another wave down before ending wave 2 in the primary degree (green) What to do in scenario A? In this scenario, when the price reaches the green Inflection zone, we will buy EURJPY Scenario B This corrective cycle ended on January 2023, and we have already started wave 3 in the primary degree. What to do in scenario B? The EURJPY will need to break the highs created on October 2022 before looking for buying opportunities in a shorter time frame cycle. In conclusion, in the short term, we do not expect that EURJPY can provide us with good trading opportunities. We will continue analysing it for you and updating you accordingly if the market structure changes Please remember to do not to risk more than 2% of your account on each trading idea
Long
by TradingtheRightSide
experimenting with eurjpyI have analyzed the currency pair of Euro/Japanese Yen (EUR/JPY) and determined that it is currently showing an upward trend based on a technical analysis of the currency pair. First, let's examine the overall trend. Over the past six months, EUR/JPY has shown a steady increase, with the pair trading above its 50-day moving average and 200-day moving average. This is a bullish signal, indicating that the trend is up and that the pair is likely to continue its upward trajectory. Next, let's look at the recent price action. In the past two weeks, EUR/JPY has broken out of a symmetrical triangle pattern, which is a bullish pattern that signals an imminent uptrend. The break of the triangle is confirmed by an increase in volume, indicating a strong demand for the euro. Furthermore, the Relative Strength Index (RSI) is also signaling a bullish trend for EUR/JPY. The RSI is a momentum indicator that measures the strength of a currency pair's price action. Currently, the RSI is above 50 and trending higher, indicating that the euro is gaining strength against the Japanese yen. Finally, it's worth noting that the euro has been benefiting from an overall improvement in the Eurozone economy, with positive economic data releases and the European Central Bank's recent signal of a potential tapering of its asset purchase program. These factors are contributing to an increase in demand for the euro, which is driving the upward trend in EUR/JPY. In conclusion, based on the technical analysis, the EUR/JPY currency pair is exhibiting a strong upward trend, with a bullish signal from both the overall trend and recent price action, along with a strengthening euro. As a result, this may be a good time for investors to consider adding EUR/JPY to their portfolios.
Long
by da-bag
3
📌 Potential BUY setup for: EUR/JPY👩🏽‍💻Technical: The monthly and weekly time frames for EUR/JPY are showing bullish signs, with the MAs of 20/50 and 200 trending below. However, on the daily chart, the price is currently experiencing a pullback, indicating potential bearish pressure. The 1-hour consolidation further confirms the current market situation for EUR/JPY. 🎯 For an ideal entry: You should wait for the price to push higher and break through the resistance zone, also breaking the 4-hour moving average of 20.
Long
by fxtraderkristina
2
EURJPY to find support at previous swing low?EURJPY - Intraday - We look to Buy at 140.10 (stop at 139.50) Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. We are trading at oversold extremes. This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher. Indecisive price action has resulted in sideways congestion on the intraday chart. Preferred trade is to buy on dips. Our profit targets will be 141.60 and 141.85 Resistance: 142.70 / 144.85 / 148.40 Support: 139.10 / 136.95 / 133.40 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.
Long
by OANDA